Concerns about Check Point (CHKP) Mainly Noise, Oppenheimer Reiterates Buy
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Price: $127.31 -1.52%
Rating Summary:
16 Buy, 31 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 13 | New: 35
Rating Summary:
16 Buy, 31 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 13 | New: 35
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Oppenheimer analysts reiterated their Outperform rating on Checkpoint Software (NASDAQ: CHKP) and price target of $70.00.
Checkpoint shares are lower by 7 percent over the past 3 months after concerns resurfaced about the competitive landscape, Europe and slower growth rates.
“We believe these concerns are mainly noise similar to pre-2Q12 results, as our field checks with 22 VARS suggest CHKP should report 3Q results at least in line with consensus estimates of $332M/$0.76 (our $334.2M/$0.78),” said analyst Shaul Eyal.
“In our opinion, with shares depressed CHKP has taken advantage of its $1B share buyback plan to return value to investors. CHKP remains attractively valued, at 13.2x FY13E EPS including $16.30 of cash/share,” added Eyal.
For an analyst ratings summary and ratings history on Checkpoint Software click here. For more ratings news on Checkpoint Software click here.
Shares of Checkpoint Software closed at $46.68 yesterday.
Checkpoint shares are lower by 7 percent over the past 3 months after concerns resurfaced about the competitive landscape, Europe and slower growth rates.
“We believe these concerns are mainly noise similar to pre-2Q12 results, as our field checks with 22 VARS suggest CHKP should report 3Q results at least in line with consensus estimates of $332M/$0.76 (our $334.2M/$0.78),” said analyst Shaul Eyal.
“In our opinion, with shares depressed CHKP has taken advantage of its $1B share buyback plan to return value to investors. CHKP remains attractively valued, at 13.2x FY13E EPS including $16.30 of cash/share,” added Eyal.
For an analyst ratings summary and ratings history on Checkpoint Software click here. For more ratings news on Checkpoint Software click here.
Shares of Checkpoint Software closed at $46.68 yesterday.
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