Jefferies analyst Joseph Gallo upgraded Check Point Software to Buy from Hold with a price target of $150, up from $135. The company is well positioned for a consolidating IT security market in a "more challenged" 2023, Gallo tells investors in a research note. The analyst says Check Point continues to reorient itself toward growth and that its profitability will allow it to continue to invest even in a worsening macro environment. Consensus 2023 revenue expectations are reasonable and the stock’s valuation "should prove very defensible," writes Gallo.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on CHKP:
- Check Point price target raised to $130 from $125 at Piper Sandler
- Check Point Software to Announce Fourth Quarter and Full Year 2022 Financial Results on February 13, 2023
- Check Point expands collaboration with Intel for anti-ransomware capabilities
- Check Point® Software Technologies Enhances Endpoint Security with Intel vPro Platform
- Check Point Software Technologies Named a Leader in the Gartner® Magic Quadrant™ for Network Firewalls