Roper Industries (ROP) PT Lowered to $575 at Argus, 'Recent weakness offers buying opportunity'

Argus analyst John Eade lowered the price target on Roper Industries (NASDAQ: ROP) to $575.00 (from $600.00) while maintaining a Buy rating.

The analyst comments "Our rating on Roper Technologies Inc. (NYSE: ROP) is BUY. This well-managed company has a long record of consistent sales, earnings and dividend growth. We think the company - which designs software-as-a-service solutions for a variety of end markets, including healthcare, education, transportation, government, water and energy - is well positioned for the post-pandemic future as its products enable work-from-home, environmental testing, and electronic surveillance. The balance sheet is clean, and management has shown a focus on shareholder returns over the years. Roper shares are not cheap; however, pullbacks often represent attractive buying opportunities. ROP is suitable as a core holding in diversified portfolios. Blending our valuation approaches, we arrive at our target price of $575, down from $600 to take into account the impact of high interest rates on equity valuation multiples."

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