CHKP - Check Point Software Gains Ground: Morgan Stanley Highlights Stable Demand And Promising Portfolio Expansion | Benzinga
Morgan Stanley analyst Hamza Fodderwala upgraded the shares of Check Point Software Technologies Ltd (NASDAQ: CHKP) from Underweight to Equal-Weight and raised the price target from $118 to $144.
The analyst has upgraded the stock because of more stable demand and market share trends based on the latest checks and reseller survey.
An expanding product portfolio beyond core network security should drive higher recurring revenue mix, said the analyst.
The portfolio expansion, according to the analyst, should sustain 3-4% topline growth overall in CY24/25.
The analyst noted that the checks ...