Check Point price target lowered to $265 from $280 at Wells Fargo

Wells Fargo lowered the firm’s price target on Check Point (CHKP) to $265 from $280 and keeps an Overweight rating on the shares. The firm notes shares of Check Point traded down despite a solid quarter and inline guide. While it was more of a hardware-centric beat in a fairly crowded stock, free cash flow is still on track to grow low-teens this year, which provides valuation support, Wells adds.