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Fly News Breaks for January 10, 2019
DOV
Jan 10, 2019 | 06:04 EDT
UBS analyst Steven Winoker upgraded Dover to Buy from Neutral with a $91 price target. Better than forecasted earnings as well as a valuation re-rating will contribute to ~20% appreciation in the shares over the next 12 months, Winoker tells investors in a research note. The analyst's 2019 estimates are 5% above consensus and he believes the stock's upside/downside ration is 3:1. Following asset sales and the Apergy spinoff, management has an opportunity to rebrand the Dover image, Winoker says.
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