Morgan Stanley lowered the firm’s price target on Check Point (CHKP) to $197 from $212 and keeps an Equal Weight rating on the shares. While Q4 results could actually be better than expected, the firm would view that largely as pre-buying ahead of price increases as memory costs continue to increase, challenging a firewall refresh moving throughout the year, the analyst tells investors in a preview for the cybersecurity group.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CHKP:
- Check Point, Hendrick Motorsports partner to strengthen cyber security
- Check Point Software: Defensive Cybersecurity Leader Poised for Steady Growth and Margin Resilience, Buy Rated at $285 Target
- Check Point (CHKP): Margin Headwinds, Acquisition Risks and FX Pressures Justify Maintain-Hold Stance
- Check Point price target lowered to $195 from $210 at Scotiabank
- Check Point introduces Check Point Exposure Management