Roper Industries (ROP) PT Raised to $330 at Cowen, Remains a Top Pick

Cowen raised its price target on Roper Industries (NYSE: ROP) to $330.00 (from $320.00) while maintaining a Outperform rating.

Analyst Joseph Giordano comments "Updating model to reflect most recent results and outlook. New FY19 estimates reflect the sale of Gatan effective at 12/31/17 and EPS would have been $12.61 (vs. our prior $12.35 est) without accounting for the sale. We expect proceeds from the sale will be redeployed in FY19, though we don't currently model for it. $330 target implies just over 20.5x FY19E EV/EBITDA and just under 24x FY19E FCF."

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