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Fly News Breaks for April 15, 2019
CHKP
Apr 15, 2019 | 08:07 EDT
Oppenheimer analyst Shaul Eyal raised his price target for Check Point to $145 from $130 ahead of Q1 results. The analyst says his checks with 21 VARs across the U.S. and Europe indicate consistent execution and stabilizing trends should enable the company to meet or slightly exceed consensus revenue estimate, steady regional performance driven by ongoing traction of its mid/high-end appliances provides further support, and infinity continuing to be the focal product aimed at helping customers to do more with fewer resources. Further, Eyal points out that cloud continues to garner greater mindshare via CloudGuard/Dome9, easier year over year comps still provide a decent set-up, and Check Point's momentum seems supported by a still healthy IT spending environment. He reiterates an Outperform rating on the shares.