Morgan Stanley reiterates an Equal-Weight rating on Dover DOV and lowers its price target from $65 to $64.
Morgan Stanley notes, “DOV's negative pre-announcement was taken well by the market, indicating that the guide-down was largely expected. However, we still see downside risk to the FY12 plan as well as the stock price in our bear case scenario. Reiterate EW; we lower our price target from $65 to $64.”
Dover closed at $4.14 on Monday.
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