RBC Capital raised the firm’s price target on Roper Technologies to $696 from $622 and keeps an Outperform rating on the shares. Roper is indisputably one of the highest-quality names within the Multi-Industry sector as it leads the pack in EBIT margin and free cash flow conversion thanks to its portfolio of low capital-intensity and profitable SaaS and network-based businesses, the analyst tells investors in a research note. Roper’s strong free cash flow generation should also be enough to fund over $4B of acquisitions through 2024, the firm added.
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