Roper Industries (ROP) PT Lowered to $666 at RBC Capital

RBC Capital analyst Deane Dray lowered the price target on Roper Industries (NASDAQ: ROP) to $666.00 (from $675.00) while maintaining a Outperform rating.

The analyst comments "There were few surprises in the EPS story in Outperform-rated Roper’s modest 12c/3% 3Q24 operating beat and guidance boost. Guidance for 4Q24 bracketed consensus when adjusting for the 3c EPS drag from the recently acquired Transact Campus. At Roper, compounding FCF matters much more than EPS, and on this measure FCF was a decided positive this quarter, up 15% Y/Y at a record $719 mil/206% conversion. We also liked hearing how the previous soft-spots in the portfolio improved, including stabilizing freight-matching markets and the Neptune manufacturing glitch resolved. With +$4 billion in M&A capacity, look for more dealmaking."

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