Check Point price target lowered to $165 from $170 at Stifel

Stifel analyst Adam Borg lowered the firm’s price target on Check Point to $165 from $170 and keeps a Hold rating on the shares following what the firm calls “a solid print.” Q2 guidance brackets consensus while FY24 guidance is reaffirmed, added the analyst, who believes Check Point has a number of drivers to sustain mid-to-high single-digit top-line growth, but also thinks valuation largely reflects this.