UPDATE: J.P. Morgan Raises PT on Roper Industries to $87

J.P. Morgan is out with its report today on Roper Industries ROP, raising its PT from $84 to $87. In a note to clients, J.P. Morgan writes, "Execution and end market growth have been exceptional, and the outlook for 2H11/2012 is solid. Based on our 2012 EPS adjustment, we are raising our price target to $87 (from $84). Roper's growth story remains intact, but we continue to position ourselves where more fundamental acceleration is ahead." J.P. Morgan maintains Neutral on ROP. Shares of ROP closed Wednesday at $83.23.