02:35 AM EST, 03/08/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target price to $185 from $175, valuing shares at 18.5x our 2025 EPS forecast of $10.02 (2024 EPS estimate kept at $9.13), near DOV's long-term historical forward average. We believe a multiple that is roughly in line with the company's historical average is warranted given DOV's ongoing portfolio optimization and our view of normalizing customer inventories that we see enabling a continued recovery in order rates in the coming quarters. Interest rate cuts could further support bookings as sentiment and carrying costs improve as a result, in our view. DOV's balance sheet is well positioned to execute its M&A pipeline and/or return capital to shareholders in 2024, which we see providing additional upside for shares.