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Fly News Breaks for June 10, 2016
DOV
Jun 10, 2016 | 08:03 EDT
As noted earlier, Bernstein upgraded Dover to Outperform from Market Perform. The firm thinks that the oil-related headwinds the company had been experiencing have peaked. It says that the company's non-oil business now accounts for 93% of its earnings, up from about 60% previously, and Bernstein expects those units to generate low to mid single digit percentage organic growth. Additionally, the firm is extremely upbeat on the company's acquisition of Wayne, saying that the deal increases the value of Dover's stock by $7 per share. Target $87.
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