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Fly News Breaks for December 18, 2018
DOV
Dec 18, 2018 | 07:43 EDT
Morgan Stanley analyst Joshua Pokrzywinski assumed coverage of Dover at Equal Weight, down from the firm's prior Overweight rating, stating that he believes the company has significant margin upside across the portfolio, but rightsizing and shifting its footprint will take time and can come with execution risks. He also sees Refrigeration & Food Equipment markets continuing to decelerate into next year, Pokrzywinski noted He set an $89 price target on Dover shares, down from the firm's prior $94 target.
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