Dover price target raised to $198 from $183 at RBC Capital

RBC Capital analyst Deane Dray raised the firm’s price target on Dover (DOV) to $198 from $183 and keeps a Sector Perform rating on the shares. The company reported a modest operating earnings beat vs. consensus as sluggish 0.5% organic growth was more than offset by cost-out/productivity/mix-driven margin upside, the analyst tells investors in a research note. Despite the tepid topline, Dover has been able to expand margins through positive mix and rigorous cost containment, the firm added.