Bethel Finance news:
Merrill Lynch and Barclays Capital are bullish on Check Point Software Technologies Ltd. , following the publication of the company's financial report for the first quarter of 2011 on Thursday. Both investment banks reiterated their recommendations and raised their target prices.
Merrill Lynch gives Check Point a "Neutral" recommendation raised its target price to $55. It said, "Check Point's results reflect the strength of its portfolio which is allowing it to win against competition and grow faster than the market taking share." However, it says that the company's growth rate is decelerating. It raised its 2011 revenue and earnings per share forecasts to $2.79 EPS on $1.23 billion revenue from $2.74 EPS $1.21 billion revenue.
Barclays Capital gives Check Point an "Overweight" recommendation and raised its target price to $61 from $53. "We believe shares have room for further multiple expansion given Check Point’s solid growth profile, cash flow generation and leadership position within the consolidating network security market." Barclays also raised its 2011 EPS and revenue forecast for the company to $2.77 EPS on $1.23 billion revenue (12.2% growth over 2010) from $2.72 EPS on $2.21 billion revenue.
Check Point's share price rose 1% on Friday to $54.11, giving a market cap of $11.28 billion.
No comments:
Post a Comment