Dover price target raised to $274 from $240 at BofA

BofA analyst Andrew Obin raised the firm’s price target on Dover (DOV) to $274 from $240 and keeps a Buy rating on the shares following “solid” Q1 results. The firm notes Bookings grew 24% year-over-year, accelerating from 10% last quarter, and driving a 1.20 times book-to-bill. Furthermore, BofA argues that Q2’s bookings give the firm conviction that organic revenue growth will accelerate from Q1’s 5% year-over-year pace.