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Oppenheimer Maintains a 'Perform' on Roper Industries (ROP); Raising Numbers on Acquisition of Sunquest

July 31, 2012 10:20 AM EDT Send to a Friend
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Price: $131.96 --0%

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    2 Buy, 6 Hold, 0 Sell

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Oppenheimer maintains a 'Perform' on Roper Industries (NYSE: ROP) price target of $115.00 (from $110.00).

Analyst, Christopher Glynn, said, "ROP's acquisition of Sunquest, the global market leader in laboratory diagnostic software solutions, for $1.4B, projects $140M+ EBITDA in 2013, excluding fair value accounting of Sunquest's deferred revenue (which will impact ROP's GAAP results for the first year of ownership, most significantly in the first couple quarters). The deal represents ROP's single largest investment. Post-deal (expected 9/1 close), ROP retains ample liquidity for additional substantial acquisitions. Organic growth appears trending at or near the low end of prior 5-8% guidance (Europe the primary driver), but with solid operating margin execution, EPS guidance (excluding Sunquest) was only adjusted for 4c additional FX headwind. Incremental margins were 59%."

FY12 EPS estimate raised from $4.85 to $4.95 and FY13 from $5.35 to $5.75.

For an analyst ratings summary and ratings history on Roper Industries click here. For more ratings news on Roper Industries click here.

Shares of Roper Industries closed at $99.64 yesterday.




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