Morgan Stanley analyst Hamza Fodderwala lowered the firm’s price target on Check Point to $116 from $125 and keeps an Underweight rating on the shares following what the firm called "another underwhelming result in what’s been a very mixed calendar Q4 earnings season in security overall." The company’s initial 2023 revenue and EPS outlook was "roughly inline with consensus," said the firm, whose own longer term forecasts and Underweight thesis are unchanged as they see limited visibility into trends improving from here.
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