After Raymond James upgraded Check Point Software Technologies, the stock gained 4% to a high of $128.04 on Friday.

Based on near-term good demand in emerging subscription-based technology and net new customer growth, analyst Adam Tindle upgraded the business from market performance to outperform with a price objective of $140.

He went on to say that they expect "a mid/high single-digit price hike to phase in throughout 1H22."Online Press Kit - Check Point Software

"We recognize longer-term structural concerns about the firewall's future, but Check Point generates healthy cash flow on top of already significant balance sheet flexibility for further platform expansion, and we still believe this is a stock that can work over our NTM time horizon given the healthy growth dynamics we're hearing," Tindle added.
Analysts at Mizuho and UBS cut their price expectations for the company to $125 in mid-December.