UBS Cuts Price Target on Roper Industries (ROP) to $190 Following Weak 2Q

UBS maintained a Buy rating on Roper Industries (NYSE: ROP), and cut the price target to $190.00 (from $195.00), following the company's 2Q earnings report. ROP reported EPS of $1.56, below consensus of $1.61, and at the low end of guidance. 2016 EPS guidance was lowered to $6.57-$6.71 from $6.85-$7.15.

Analyst Shannon O'Callaghan commented, "Roper 2Q16 adjusted EPS of $1.56, was below our $1.61 estimate, consensus of $1.61 and at the low end of guidance ($1.56-1.61). Relative to our estimates the segments were a $0.06 miss led by RF Tech (-$0.05) and Medical & Imaging (-$0.04), partially offset by Industrial Tech (+$0.02) and Energy (+$0.01). Organic sales declined 2% vs. our flat estimate with RF Tech -4% (vs. our flat), Medical & Imaging +4% (vs. our +7%) and Industrial Tech -1% (vs. our +1%), while Energy was in line with our estimate (-14%). Orders grew 9% (+2% organically) in 2Q and book-to-bill stands at 1.02x."

For an analyst ratings summary and ratings history on Roper Industries click here. For more ratings news on Roper Industries click here.

Shares of Roper Industries closed at $163.33 yesterday.

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