Check Point Software Gains Ground: Morgan Stanley Highlights Stable Demand And Promising Portfolio Expansion
Portfolio Pulse from Shivani Kumaresan
Morgan Stanley analyst Hamza Fodderwala has upgraded Check Point Software Technologies Ltd (CHKP) from Underweight to Equal-Weight and raised the price target from $118 to $144. The upgrade is due to stable demand, market share trends, and an expanding product portfolio. The analyst predicts a 3-4% topline growth in CY24/25 and an 8% EPS CAGR from CY23-25. CHKP shares are currently trading higher by 1.05% at $135.73.
October 16, 2023 | 5:30 pm
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Check Point Software Technologies Ltd (CHKP) has been upgraded by Morgan Stanley from Underweight to Equal-Weight with a raised price target of $144. The upgrade is due to stable demand, market share trends, and an expanding product portfolio.
The upgrade by Morgan Stanley is based on stable demand and market share trends, as well as an expanding product portfolio. This is likely to drive higher recurring revenue mix, which is a positive sign for investors. The raised price target also indicates the analyst's confidence in the company's future performance. Therefore, the short-term impact on CHKP's stock price is likely to be positive.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100