Truist raised the firm’s price target on Check Point (CHKP) to $250 from $220 and keeps a Buy rating on the shares. The firm notes the company reported Q4 revenues that were generally ahead of consensus, driven by the continued recovery in product revenue and the closing of deals that slipped in Q3, which drove billings growth of +11% year-over-year. The company continues to see strength in the Infinity Platform and called out traction in its Quantum and cloud security businesses this quarter. Check Point provided conservative FY25 guidance that accounts for GTM leadership changes, including a new CRO, Truist adds.
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