JP Morgan Provides Color on Roper Industries

JP Morgan provided color on Roper Industries ROP. In a research report published today, the rating agency commented on the company's strong Q2 performance. In the report, JP Morgan states, “This was another strong quarter for ROP, and the momentum businesses continue to deliver, with Energy and Industrial Tech both posting revenue and operating profit above expectations, a key overall positive. Adjusted guidance shows that the 2H will be strong as well, despite some slowing in overall growth trends, and we expect shares to be up today on the quarter and the outlook. While there is nothing wrong here, expectations have remained high, with management delivering, but we see more fundamental acceleration in later-cycle stocks at this juncture.” At the moment, JP Morgan has a Neutral rating placed on the company's stock. On Friday, ROP closed the day at $84.46. Its shares added 1.7% to their value in today's pre-market trading to stand around $85.90.