Check Point price target raised to $142 from $140 at BMO Capital

BMO Capital analyst Keith Bachman raised the firm’s price target on Check Point to $142 from $140 and keeps a Market Perform rating on the shares. The company reported a mixed quarter as billings and product revenues missed expectations and with free cash flows continuing to be negatively impacted by contract duration, the analyst tells investors in a research note. The firm adds however that while the firewall market will remain challenging over the next few quarters, it believes that Check Point is taking appropriate steps to diversify its revenue base, including through M&A.