UPDATE: Wunderlich Securities Upgrades Check Point Software Technologies to Buy on Valuation

Wunderlich Securities raises its rating on Check Point Software Technologies

from Hold to Buy, but maintains its $60 price target unchanged. Wunderlich Securities comments, "We are upgrading shares of Check Point (CHKP) to Buy from Hold, as we believe the recent pullback in CHKP shares offers a buying opportunity for investors looking to own a blue chip player in the security space. Moreover, we believe CHKP's recent introduction of its unified R75.4 and GAiA operating system and IPv6 adoption offer two potential catalysts for accelerated adoption of its software blade architecture, and an expanded up-sell opportunity resulting from customer adoption of the company's blade architecture. Our price target is unchanged at $60." CHKP closed at $51.24 on Thursday.