UPDATE: Canaccord Genuity Initiates Roper Industries with Hold Rating on Diversified Revenue Base
In a report published Thursday, Canaccord Genuity analyst John Quealy initiated coverage on Roper Industries (NYSE: ROP) with a Hold rating and $128.00 price target.
In the report, Quealy noted, “A diversified ‘play' with leading market share in growth-oriented niche markets. Operating within four distinct verticals, Roper enjoys a diversified revenue base derived from key markets such as energy, water, radio frequency (RF) technology, SaaS-based networks, security, education and research/medical, among others. Margins (and management execution) have been flat-out impressive. Roper's lean operating structure and commitment to the manufacture of premium products in niche markets helps to drive strong gross/EBITDA margins of ~55%+/30%+, respectively. Recent investments in SaaS-based networks (healthcare) have helped drive even stronger returns.”
Roper Industries closed on Wednesday at $126.11.
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Tags: Canaccord Genuity