BMO Capital analyst Keith Bachman has revised the price target for Check Point Software Technologies (CHKP, Financial), reducing it from $275 to $250. While the rating on the shares remains at Outperform, the adjustment reflects the firm's assessment of current market conditions and company performance.
Check Point recently disclosed satisfactory top-line earnings, buoyed by a robust increase in product revenues. This performance has remained unaffected by broader economic pressures such as tariffs. However, BMO Capital indicates a preference for growth driven more by subscription services rather than physical products.
Looking ahead, BMO Capital is optimistic about the potential positive impact of Check Point's new leadership team, including a fresh Chief Technology Officer. The firm believes these changes could stimulate further growth in the company's performance over time.
