Strong earnings from industrial AI play Dover prove the stock belongs in our portfolio

Dover on Thursday delivered better-than-expected second-quarter earnings and raised its full-year guidance — an all-around strong report that validates our decision to take a stake in the industrial name two months ago. Revenue in the three months ended June 30 totaled $2.18 billion, topping the consensus of $2.15 billion, according to estimates compiled by LSEG. Sales rose 5% year over year on an organic basis, which removes the impact of foreign exchange, acquisitions, and divestitures.

I think we were just more opportunistic, but it's an arrow in our quiver going forward." While it's not our style to buy a stock up more than 6%, as Dover is Thursday, we're maintaining our 1 rating and price target of $200 a share. Quarterly commentary Dover knocked it out of the park with its organic bookings growth, up 16% in the quarter, representing a major acceleration from the 3% growth tallied in the January-to-March period.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

JPMorgan posts strong Q2 earnings, tops expectations; shares dipJPMorgan posts strong Q2 earnings, tops expectations; shares dip
Fuente: Investingcom - 🏆 450. / 53 Leer más »

Stock market today: With US markets closed, Asian shares slip and European shares gainShares are mostly lower in Asia after strong gains in Europe, while U.S. markets were closed for the July 4th holiday. Japan's benchmark Nikkei 225 topped 41,000 early Friday, gaining 0.3% and adding to Thursday's record close. U.S. futures edged higher and oil prices fell. On Wednesday, the S&P 500 rose 0.
Fuente: AP - 🏆 728. / 51 Leer más »