Jefferies Starts Checkpoint Software (CHKP) at Buy

Jefferies initiates coverage on Checkpoint Software (NASDAQ: CHKP) with a Buy. PT $66.00.

The firm states, "It remains early in Check Point’s model transition where the company is seeing the dual benefit of a hardware and software model. We look for an acceleration in the transition to its Software Blade architecture which should bring further upside to bookings and cash flow growth which is attractive at an inline valuation. As such, we are initiating with a Buy."

For more ratings news on Checkpoint Software click here and for the rating history of Checkpoint Software click here.

Shares of Checkpoint Software closed at $56.67 yesterday.

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