RBC Capital provided its key takeaways from Roper Technologies, Inc. (NYSE:ROP) first-ever analyst meeting, where the company showcased its business model, leadership team, growth algorithm, and culture.
There was no update to 2023 guidance, but the company did make its case for how its current mid-single-digit organic revenue cadence should be stepping up to mid-to-high-single-digits.
The analysts continue to see the company as well positioned in its pivot to 75% niche software markets with high free cash flow.
According to the analysts, the attractive M&A funnel should help Roper achieve its double-digit total revenue growth goal over the next 5 years. The analysts expect shares to benefit in a risk-off environment and reiterate their Outperform rating and $528 price target.