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UPDATE: BMO Capital Markets Reiterates Outperform Rating, Raises PT on Dover Corporation

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In a report published Wednesday, BMO Capital Markets reiterated its Outperform rating on Dover Corporation (NYSE: DOV), and raised its price target from $72.00 to $75.00.

BMO Capital Markets noted, “DOV trades at 7.5x our estimated CY2013 EBITDA estimate of $1,752 million and at 6.9x our estimated CY2014 EBITDA estimate of $1,909 million. On an EV/EBITDA basis, we assume Dover can trade at 8.5x our CY2013 EBITDA estimate and 8.0x our CY2014 EBITDA estimate. We rate Dover Corporation shares Outperform owing to long-term strength in refrigeration, handsets, and energy.”

Dover Corporation closed on Tuesday at $63.89.

Latest Ratings for DOV

DateFirmActionFromTo
Jan 2016CitigroupInitiates Coverage onNeutral
Jan 2016BarclaysMaintainsEqualweight
Jan 2016BernsteinDowngradesOutperformMarket Perform

View More Analyst Ratings for DOV
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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