Oppenheimer Reiterates Outperform Rating On Check Point Software (CHKP)

In a company update released today at Oppenheimer, the firm's analysts reiterated their Outperform rating and $42 price target on shares of Check Point Software Technologies CHKP. The firm's price target is based on a target multiple of 16x FY11 EPS estimates of $2.60. The analysts wrote, "our target is supported by net cash/share of $10.09 and by the improving outlook for YoY top line growth, which we estimate at 15% in FY10 and 10% in FY11. Check Point Software Technologies Ltd. (Check Point) develops, markets and supports a range of software, as well as combined hardware and software products and services for information technology (IT) security.