Bernstein analyst Brendan Luecke upgraded Roper Technologies to Outperform from Market Perform with a price target of $525, up from $490. The company’s organic free cash flow growth and multiples paid to acquire cash are set to improve, supporting its long-term mid-teens free cash flow growth target, the analyst tells investors in a research note. Acquisition multiples are trending down, says the firm. It thinks Roper’s multiple should expand slowly "as the software story matures" and upgraded the shares post the "strong" Q1 and investor day.
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