Morgan Stanley steps to sidelines on Dover

|About: Dover Corp (DOV)|By:, SA News Editor

Dover (DOV -1.2%) trades lower on the heels of a Morgan Stanley downgrade.

Analyst Nigel Coe cuts the shares to Equalwieght from Overweight noting that "for the last year, [Morgan Stanley has] argued that DOV's FY13 guidance (which embedded 17% Y/Y mid-point EPS growth) was achievable and that this would lead to above-average multiple expansion. This has effectively played out."

Price target is now $94.