UPDATE: Stifel Nicolaus Reduces PT to $64 on Check Point Software Technologies on Mixed Q2 Results
Stifel Nicolaus reiterated its Buy rating on Check Point Software Technologies (NASDAQ: CHKP) and reduced its price target from $67 to $64.
Stifel Nicolaus noted, "Check Point's 2Q12 results were mixed but not as bad as feared. The company's results reflect some increased top-line pressures, which we believe are more macro and company specific as opposed to being a result of any changes in competitive intensity. The company's wider 3Q guidance range reflects increased uncertainty in what is historically a seasonally challenging quarter. However, we see a bias towards the mid to high end relative to the low end."
Check Point Software Technologies closed at $48.75 on Wednesday.
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