Roper Industries (ROP) PT Raised to $617 at Baird

Baird analyst Richard Eastman raised the price target on Roper Industries (NASDAQ: ROP) to $617.00 (from $615.00) while maintaining a Neutral rating.

The analyst commented: "Maintain Neutral rating. Solid 1Q24 results included organic revenue +8% YoY (1% upside), EBITDA margins 40% (in-line), EPS +13% YoY (2% upside), FCF +15% YoY. Strongest organic growth (and positive variance) coming from Technology Enabled Products, while software businesses performed at ~MSD% rates and finished modestly better than expected.FY24 guidance raised, largely carrying through 1Q24 performance and reiterating prior guidance commentary for remainder of year: total revenue +12% YoY (previously 11-12%), organic +6% YoY (previously 5-6%), EPS $18.05-18.25 or growth of 9% YoY (consensus=$18.11)."

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