UPDATE: JP Morgan Raises Target to $79 on Roper Industries

JP Morgan reiterates its Neutral rating on Roper Industries ROP and raises its price targe to $79 from $76 a share as it raised estimates based on better top-line growth from 4Q11. JP Morgan says, "Management initiated 2012 EPS guidance in the range of $4.67- 4.87 with the mid point about in line with the Street's $4.74. Core growth is expected to be 5-8%, with Energy/Industrial at or above the high end, while RF Tech/Imaging are at or a little below the low end. Based on the better top-line growth, we are raising our estimates by about 5%, but note that mid-SD core and 10% EPS growth are not differentiated compared to EE/MI peers." ROP closed at $96.48 a share on Thursday.