In a report published Wednesday, Citigroup reiterated its Neutral rating on Roper Industries ROP, and raised its price target from $103.00 to $112.00.
Citigroup noted, “We are increasing our target price from $103 to $112 to reflect our shift in our sector valuation. We continue to assume the large-cap MI-EE group should trade for 14.0x EPS, but are now applying this to our 2013 EPS estimates instead of the blend of 2012/2013 that we used previously. Our ROP target continues to assume the shares trade for a 35% premium to the target group multiple, at the high-end of its 10% to 35% historical relative range.”
Roper Industries closed on Tuesday at $102.49.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in