Roper Technologies initiated with a Buy at Stifel

Stifel initiated coverage of Roper Technologies (ROP) with a Buy rating and $685 price target Roper concentrates its investments on high-quality, asset-light, market-leading businesses and over the last several years, via acquisitions and divestitures, the revenue base has shifted toward application and network software businesses that now account for 76% of total revenue, says the analyst. The firm believes Roper is well-positioned to sustain its history of strong free cash flow growth through its disciplined acquisition activity and accelerating organic growth in its software and networks businesses, the analyst added.