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Check Point price target lowered to $215 from $238 at BMO Capital
The Fly

Check Point price target lowered to $215 from $238 at BMO Capital

BMO Capital lowered the firm’s price target on Check Point (CHKP) to $215 from $238 and keeps a Market Perform rating on the shares. The company’s Q3 billings results missed consensus estimates, though on an adjusted basis, billings growth would have modestly improved from last quarter, while its Subscription revenue growth was below expectations due to weak cloud and endpoint security traction, the analyst tells investors in a research note. BMO adds that to get more constructive on the shares, it would have to assess the opportunities for Cyberint, Perimeter 81, and Harmony Email/Avanan vs. the incremental weakness in cloud and endpoint security subscriptions, the firm added.

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