Jefferies analyst Joseph Gallo raised the firm’s price target on Check Point (CHKP) to $225 from $220 and keeps a Buy rating on the shares. The firm expects software stocks will have a “slower start out of the gate” in 2025 as investors recalibrate and adjust to the changes implemented by the new administration. Material artificial intelligence benefits unlikely to come until late in 2025, the analyst tells investors in a research note. However, Jefferies believes cybersecurity “should prove more resilient” in the first half of 2025 based on strong fundamentals but will lag any material broader AI driven software market rebound. The firm names CyberArk (CYBR) its top pick.
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Read More on CHKP:
- Check Point price target raised to $190 from $182 at Stifel
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- Check Point appoints Gil Shwed as executive chairman, Nadav Zafrir as CEO
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