Barclays has revised its price target for Dover Corporation (DOV, Financial), reducing it from $205 to $180. Despite this adjustment, the financial firm maintains an Equal Weight rating on Dover's shares. This reflects a modest expectation for the company's performance in the near term.
The decision emerges as Barclays observes an increased appeal in short cycle industrial stocks compared to more defensive options. However, the firm notes that there is currently limited visibility on future demand, which poses a challenge for accurately forecasting these stocks' performance.
