Wells Fargo analyst Andrew Nowinski upgraded Check Point Software Technologies to Equal Weight from Underweight with an unchanged price target of $130. The analyst cites a shift in investor sentiment toward profitability, coupled with improving demand trends in Q4 for the upgrade. Nowinski expects investor favoritism toward profitability to remain throughout 2023 given the uncertain macro and expectations for further interest rate hikes. Check Point is the most profitable company in his coverage universe.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on CHKP:
- Cantor Fitzgerald software analysts to hold an analyst/industry conference call
- Jefferies software/Internet analyst to hold analyst/industry conference call
- December 2022’s Most Wanted Malware: Glupteba Entering Top Ten and Qbot in First Place
- Check Point announces Tzipi Ozer-Armon joins board
- White House to unveil cybersecurity strategy, Washington Post reports