Bank of America Merrill Lynch Reiterates Buy Rating, $52 PT on Check Point Software Technologies
In a report published Monday, Bank of America Merrill Lynch reiterated its Buy rating and $52.00 price target on Check Point Software Technologies Ltd. (NASDAQ: CHKP).
BofA Merrill Lynch noted, “We have a Buy on Check Point as it transitions from one growth cycle to another. We highlight software architecture that enables upselling new functionality into a large installed base, and new hardware that creates opportunities in the high-end enterprise market. These cycles are not in our estimates and if successful, numbers could rise. Sales growth deceleration, accounting headwinds, limited upside to margins are outweighed by an attractive valuation at these levels.”
Check Point Software Technologies Ltd. closed on Friday at $44.34.
Latest Ratings for CHKP
|Sep 2016||PiperJaffray||Initiates Coverage on||Overweight|
|Sep 2016||Guggenheim Securities||Initiates Coverage on||Neutral|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.