Check Point price target raised to $160 from $140 at BofA

BofA raised the firm’s price target on Check Point to $160 from $140 and keeps a Buy rating on the shares, citing “promising trends and a solid strategy.” New initiatives may take time to carry meaningful weight, but Street expectations are low and the stabilization of legacy declines, expected later in 2024, together with continued Subscription growth and contribution from new initiatives could drive growth acceleration, says the analyst, who sees potential upside to the firm’s 4.4% growth forecast for 2024.