Nomura Securities Starts Checkpoint Software (CHKP) at Buy; Network Security Leader Benefitting From NexGen Firewall Adoption

Nomura Securities initiates coverage on Checkpoint Software (NASDAQ: CHKP) with a Buy. PT $72.00.

Analyst, Rick Sherlund, said, "We are initiating coverage of Check Point with a Buy given our optimistic view of the company’s positioning within security software, and specifically its next-generation firewall (NGFW) offerings. We forecast these annuity blades to drive the company’s next leg of growth, as they serve enterprises that are rapidly adapting to the presence of Web 2.0 in their companies. While our estimates are modestly above consensus, we believe that the Street is underestimating the company’s out-year contribution from the business’s increasingly ratable revenue recognition."

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 $63.95 yesterday.

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