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Dover transferred with Outperform, higher target at Baird
The Fly

Dover transferred with Outperform, higher target at Baird

Baird raised the firm’s price target on Dover to $176 from $165 and keeps an Outperform rating on the shares after taking over coverage of the name. Management at the company’s investor day highlighted the path for continued end market outperformance, driven by secular trends and internal investments, complimented by ongoing structural margin improvement "that has a long runway," the analyst tells investors in a research note. The firm believes the potential of Dover’s portfolio remains underappreciated, and sees upside potential to $210-$240 per share.

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