Check Point price target lowered to $160 from $165 at Citi

Citi analyst Fatima Boolani lowered the firm’s price target on Check Point to $160 from $165 and keeps a Neutral rating on the shares post the Q1 report. The analyst says billings growth rebounding year-over-year suggests the company’s execution improvements are taking hold. However, in the context of easy comps, inorganic contributions and product performance still pressured, especially against a prolonged investment cycle outpacing revenue growth, “this performance underwhelms,” the analyst tells investors in a research note.