Oppenheimer Boosts Target on Checkpoint Software (CHKP) After Checks, Sees Raised Buyback or Dividend

Oppenheimer reiterated their Outperform rating on Checkpoint Software (NASDAQ: CHKP) and raised their price target to $70 after mid-quarter channel checks indicate solid demand for CHKP's blades and appliances.

"The early adoption of CHKP's recently launched high-end appliances (61000 and 21400) could generate 1Q12 results at least in line with our $0.71 on $310.8M (+10.5%) estimates (consensus at $312.8M/$0.71)," the analyst comments.

Also with a growing focus on capital allocation strategies for cash-rich technology companies, this could lead to a more aggressive buyback plan or a dividend distribution.

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 $61.28 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Viking Holdings (VIK) PT Raised to $82 at Mizuho
• Beike (BEKE) PT Raised to $23 at Morgan Stanley
• Peoples Bancorp (PEBK) Declares $0.21 Quarterly Dividend; 1.9% Yield