Roper Technologies upgraded to Outperform from Neutral at Baird

Baird analyst Joe Vruwink upgraded Roper Technologies to Outperform from Neutral with a price target of $635, up from $617. After the 7% selloff in shares following the Q2 update, Roper is essentially receiving a “trough” valuation on “trough” estimate revisions, creating an attractive risk/reward, the analyst tells investors in a research note. The firm says the catalyst for upgrading the stock centers on accelerating enterprise software bookings and confidence in pressured portfolio areas “finding stability.”