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Check Point: Lehman Ups Rating To Overweight

Posted on June 26, 2008

Lehman s Israel Hernandez this morning raised his rating on Check Point Software (CHKP) to Overweight from Equal Weight, boosting his price target to $30 from $28. He says that with a peer-low multiple of 11.8x estimated 2009 profits, the security software stock is mispriced. He notes that Check Point has beaten estimates five quarters in a row, and that the company has an improving competitive outlook. He lifted his 2008 EPS estimate to $1.80 from $1.75; for 2009 he goes to $2 from $1.91.Check Point today is up 8 cents, or 0.3%, to $23.75. ...

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eps , security software , software