Wells Fargo Resumes Checkpoint Software (CHKP) at Outperform
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Price: $131.72 -1.87%
Rating Summary:
17 Buy, 30 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 30 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wells Fargo resumes coverage on Checkpoint Software (NASDAQ: CHKP) with a Outperform and valuation range of $55-$56.
The firm comments, "As one of the market share leaders in the network security space and a net share winner, we think CHKP can grow in excess of the market's 6.4% annual rate over the next few years. We think the opportunity on the blade architecture is underappreciated by investors and expect CHKP can grow revenue at 8% over the next three years versus Street at about 6%. Easier comps starting in Q1 2013 should help CHKP’s growth improve. Lastly, CHKP has been shareholder friendly--buying back shares at 5% annual pace and a large net cash (35% of market cap) position on the balance sheet creates an opportunity to further enhance returns."
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 $44.23 yesterday.
The firm comments, "As one of the market share leaders in the network security space and a net share winner, we think CHKP can grow in excess of the market's 6.4% annual rate over the next few years. We think the opportunity on the blade architecture is underappreciated by investors and expect CHKP can grow revenue at 8% over the next three years versus Street at about 6%. Easier comps starting in Q1 2013 should help CHKP’s growth improve. Lastly, CHKP has been shareholder friendly--buying back shares at 5% annual pace and a large net cash (35% of market cap) position on the balance sheet creates an opportunity to further enhance returns."
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 $44.23 yesterday.
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