BofA Securities analyst Andrew Obin maintains $Dover (DOV.US)$ with a buy rating, and maintains the target price at $210.
According to TipRanks data, the analyst has a success rate of 66.0% and a total average return of 13.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Dover (DOV.US)$'s main analysts recently are as follows:
The firm has adjusted its models for electrical equipment and multi-industry sectors to account for seasonal variations and trend data in preparation for the Q3 earnings season, incorporating corporate feedback, portfolio changes, and channel checks. The reassessment is largely due to a rise in group valuations affecting the broader industry complex.
The team at Dover is effectively handling over $300M in anticipated top-line headwinds for 2024, while their prospects for growth throughout the cycle are enhanced by the company's strategic move away from cyclical capital goods towards increasing scale and leadership in essential components with long-term growth drivers. Given Dover's advantageous position relative to most industrial companies for potential near to medium-term earnings growth, coupled with the stock trading at appealing valuations, the outlook remains positive.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
