Dover (NYSE:DOV) reported upbeat earnings for the third quarter on Thursday.
The company posted quarterly earnings of $2.88 per share which beat the analyst consensus estimate of $2.85 per share. The company reported quarterly sales of $2.234 billion which beat the analyst consensus estimate of $2.217 billion.
Dover raised its FY2026 adjusted EPS guidance from $10.55-$10.75 to $10.60-$10.75 and increased sales forecast from $8.579 billion-$8.740 billion to $8.660 billion-$8.740 billion.
Dover’s President and Chief Executive Officer, Richard J. Tobin, said, “Dover delivered strong results in the third quarter. Top-line growth accelerated, led by our secular growth markets in artificial intelligence and power generation infrastructure, energy transition, single-use biopharma, semiconductor manufacturing, and space launch. This strength was complemented by broad-based performance across the portfolio, including improving line rates in food retail as we completed the footprint consolidation.”
Dover shares gained 1.6% to trade at $198.66 on Friday.
These analysts made changes to their price targets on Dover following earnings announcement.
- RBC Capital analyst Jeffrey Reive maintained the stock with a Sector Perform and raised the price target from $216 to $219.
- Wells Fargo analyst Stephen Tusa maintained the stock with an Overweight rating and raised the price target from $229 to $233.
- Citigroup analyst Andrew Kaplowitz maintained the stock with a Buy and raised the price target from $266 to $268.
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