RBC Capital lowered the firm’s price target on Roper Technologies to $674 from $685 and keeps an Outperform rating on the shares. The company reported an operating beat with impressive 24% free cash flow growth, though the primary drivers of the 8% selloff were the underwhelming upside to the quarter and light Q3 guide, a rare manufacturing hiccup at Neptune mechanical water meters, and broader market weakness, the analyst tells investors in a research note.
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Read More on ROP:
- Roper Technologies narrows FY24 EPS view to $18.10-$18.25 from $18.05-$18.25
- Roper Technologies sees Q3 EPS $4.50-$4.54, consensus $4.63
- Roper Technologies reports Q2 adjusted EPS $4.48, consensus $4.46
- ROP Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Roper Technologies price target raised to $625 from $611 at Barclays
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