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Upgrade Alert for Dover (DOV)

By Nick Russo

Dover (NYSE:DOV) was upgraded from Neutral to Buy at BofA/Merrill today. The stock closed yesterday at $65.93 on volume of 1.5 million shares, above average daily volume of 1.2 million.

Dover Corporation manufactures a variety of specialized industrial products and manufacturing equipment. The Company's products include Material handling equipment, refuse truck bodies, tank trailers, refrigeration systems, refrigeration display cases, marking and coding systems,sucker rods, drill bit inserts, nozzles, swivels and breakaways, and electronic technology equipment.

There is potential upside of 0.1% for shares of Dover based on a current price of $65.93 and an average consensus analyst price target of $66.00. Dover shares have support at the 50-day moving average (MA) of $64.33 and additional support at the 200-day MA of $61.90.

In the past 52 weeks, Dover share prices have been bracketed by a low of $50.91 and a high of $78.21 and closed yesterday at $65.93, 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Dover. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Dover in search of a potential trend change.

Keywords: analyst upgrades/downgrades dover

Ticker(s): DOV