A Lehman Brothers analyst expects Check Point Software Technologies to meet or top Wall Street estimates over the next few quarters, and upgraded the stock to "Overweight" from "Equal weight."
Israel Hernandez said the Internet security software company is now selling higher-priced branded items and unveiling new products, and he added that demand will remain strong because security is a priority to Check Point's customers. He said the Redwood City, Calif. company should report strong revenue growth in the next few quarters as it begins selling more appliances.
Hernandez raised his price target on the stock to $30 per share from $28 and lifted his 2008 and 2009 profit and revenue estimates.
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