Jefferies Maintains a 'Buy' on Checkpoint Software (CHKP); Near-Term Caution Into Q3

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Jefferies maintains a 'Buy' on Checkpoint Software (NASDAQ: CHKP) price target of $57.00 (from $67.00).

Analyst, Aanron Schwartz, said, "We are more cautious on the near term growth outlook for Check Point due to a softer demand environment, high relative European exposure and competitive challenges. We believe the shares consider a fair amount of these concerns, but we have a more cautious near term view and are revising our estimates to the lower-end of the CY12 guidance range." (lowers FY13 EPS estimate from $3.56 to $3.53)

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 $49.59 yesterday, with a 52 week range of $46.94-$65.00.

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