Check Point Software Technologies Inc (CHKP): Unterberg Towbin: Check Point results wi...

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Thursday, 07/07/2005 9:33:14 AM

Thursday, July 07, 2005 9:33:14 AM

Unterberg Towbin: Check Point results will be in range of forecasts
07.7.2005 / 16:14
Omri Cohen

Four Israeli companies have warned of disappointing second-quarter results, but Check Point Software Technologies (NASDAQ:CHKP) isn't likely to join them. Before the bell today the company said it would be releasing its second-quarter 2005 results on July 19 and reassured investors that it would not be releasing an earnings warning.

Fears that it might cost Check Point 9% of its value in the second half of June, but since then the stock regained 7.6% in just over a week.

At that point CE Unterberg Towbin chimed in, repeating a Buy rating for the stock and 12-month price target of $26.

The investment bank concurs that Check Point should meet expectations for the second quarter, of 30-cent earnings per share on turnover of $145.9 million.

The average forecast is for 39 cents per share on revenues of $142-148 million, so Unterberg is mid-range.

Dubi