Checkpoint Software (CHKP) PT Raised to $116 at Morgan Stanley but Challenges Persist

Morgan Stanley analyst Keith Weiss raised the price target on Checkpoint Software (NASDAQ: CHKP) to $116.00 (from $114.00) while maintaining a Underweight rating.

The analyst stated "Q3 results were better than feared with revenue ahead but current billings slightly below consensus. Q4 guide bracketed consensus as strong security spending offsets supply chain uncertainty. At the same time, US sales execution challenges persist and additional investment is pressuring margins."

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