Dover sees 2013-2015 annual organic sales growth 4%-6% Sees 2013-2015 annual CapEx spend 3% of revenue, free cash flow generation 10% of revenue. Says committed to maintaining investment grade credit rating. Comments from slides that are being presented at the 2012 Investor Meeting.
Dover downgraded at BofA/Merrill As previously reported, Bofa/Merrill downgraded Dover to Neutral from Buy. The analyst expects Dover's upstream exposure to be a headwind in 2015 given the growing risks from a slowdown in global drilling and completion spending. Price target to $85 from $93.