Piper Sandler analyst Rob Owens raised the firm’s price target on Check Point to $130 from $125 and keeps an Underweight rating on the shares. The analyst continues to see multiple opportunities across his software universe, saying valuations appear "relatively de-risked and underlying trends prove resilient." However, he believes there is still more bad news to come, especially on the economic front. As such, 2023 "potentially sets up as a stock picker’s year," Owens tells investors in a research note. His top five ideas include Okta (OKTA), Palo Alto (PANW), Crowdstrike (CRWD), ServiceNow (NOW) and Cyberark (CYBR).
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