Dover price target lowered to $154 from $161 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Dover to $154 from $161 and keeps a Buy rating on the shares. The company lowered its FY23 guide primarily on lower Biopharma demand, which is “reasonable “, the analyst tells investors in a research note. The firm adds that beyond 2023, Goldman Sachs is lowering its estimates given weaker growth and limited visibility in a few segments, reducing its FY23/FY24/FY25 EPS to $8.80/$9.40/$10.20 from 8.85/$9.70/$10.55 respectively.