UPDATE: Citi Raises PT on Roper Industries to $89

Citi is out with its report today on Roper Industries ROP, raising its PT from $88 to $89. In a note to clients, Citi writes, "The full-year impact of the Northern Digital acquisition should be about 10c. Our new 2012/2013 estimates are $4.85/$5.40 vs consensus of $4.68/$5.33. The higher EPS estimates drive our ROP price target from $88 to $89. We continue to assume the shares sustain a 20% premium to our target group multiple of 16.5x, at the midpoint of its 10%-30% historical relative premium range." Shares of ROP closed Wednesday at $82.10.