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Stock Market & Financial Investment News

News Breaks
May 24, 2013
07:44 EDTDOVDover price target raised to $90 from $80 at RW Baird
Baird raised its price target on Dover following announcement of plans to spin off certain Communications Technologies assets into a new company. The firm views the unlocking of shareholder value and the re-focusing on core industrial markets as a positive driver. Shares are Outperform rated.
News For DOV From The Last 14 Days
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February 2, 2016
11:17 EDTDOVFitch affirms Dover at A; outlook revised to negative
Fitch Ratings has affirmed Dover Corporation's long-term Issuer Default Rating at 'A' and short-term IDR at 'F1' and revised the Rating Outlook to Negative from Stable. Dover had $2.8B of debt outstanding as of Dec. 31, 2015. The Negative Outlook reflects Dover's soft operating results and weaker credit metrics, which Fitch expects will persist through 2016 and into 2017. Dover's revenues declined 10% in 2015, due primarily to weak results in its energy segment, which realized a 26.4% decline in revenues and a 62.5% drop in operating earnings. This segment, which generated 16.8% of Dover's operating profits in 2015 has been negatively affected by the sharp drop in North American upstream oil and gas markets. Fitch expects oil and gas drilling and production will remain depressed in the first half of 2016 before reaching bottom and beginning a gradual recovery.

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