Analysts at Deutsche Bank upgraded Check Point Software Technologies Ltd. CHKP 0.05% from Hold to Buy and raised their price target from $70.00 to $90.00.
Check Point develops, markets and supports software
for information technology security.
The Numbers
Deutsche Bank analyst Karl Keirstead expects that security IT will be a strong performing sector once again in 2015. Deutsche Bank notes that Check Point currently trades at around 18 times their projected 2015 non-GAAP earnings per share and only 11.7 times free cash flow predictions. “We view these multiples as attractive given CHKP’s exposure to the fast-growing security segment and its accelerating growth profile,” Keirstead said.
Other Analyst Action
Deutsche Bank’s upgrade is the latest analyst action on Check Point, but other analysts have recently given their take on the stock as well. In November, Jefferies initiated coverage of Check Point with a Buy rating and an $88.00 price target. In October, Needham also upgraded Check Point from Hold to Buy.
Major Upside
Check Point closed up 2.3 percent at $77.12. Deutsche Bank’s $90 price target represents…
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