Bank of America Reiterates Buy and PT of $80 on Dover

Bank of America reiterated its Buy rating and a price target of $80 on Dover (NYSE: DOV). In a research report published today, Bank of America reiterated its optimism about the company's outlook.

In the report, Bank of America states, "Dover is relatively volatile industrial company with limited visibility... Dover is also a complicated company to track which we think has left the stock unappreciated. We think new management is on the right track by establishing a more disciplined acquisitions framework while pursuing restructuring and purchasing cost savings. Dover is a good cash generator which should provide additional flexibility to pursue M&A opp'ty."

In today's trading, Dover lost 2.15% of its value to trade around $63.19.