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.
Published first on TheFly
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