BMO Capital Maintains Market Perform Rating for Check Point Software: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
BMO Capital has maintained its Market Perform rating for Check Point Software (NASDAQ:CHKP) and increased its price target from $175.00 to $185.00. Despite a recent 1.06% decline in CHKP's share price to $160.73, the new price target suggests a potential 15.1% upside. Check Point Software, a leading cybersecurity vendor, generates around 50% of its revenue from Europe, the Middle East, and Africa, 40% from the Americas, and 10% from the Asia-Pacific region.
February 07, 2024 | 5:00 pm
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BMO Capital maintains Market Perform rating for CHKP, raising price target from $175 to $185. Despite a recent dip, the new target suggests a 15.1% upside.
The maintenance of the Market Perform rating by BMO Capital, coupled with an increased price target, suggests a positive outlook on CHKP's performance. The recent dip in share price might be seen as a temporary setback, with the raised target indicating confidence in the company's growth potential. Given CHKP's leading position in the cybersecurity market and its global revenue distribution, the analyst's updated price target reflects an anticipation of continued success and potential stock appreciation.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100