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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling -- Ignore unavailable to you. Want to Upgrade?

To: stevenallen who wrote (3328)	7/4/2001 12:03:05 PM
From: Bocor	Respond to of 6873

CHKP.O> cut to "buy," $55 target JERUSALEM, July 4 (Reuters) - US Bancorp Nessuah Zannex said on Monday it had cut its recommendation on Israeli network security firm Check Point Software Technologies to "buy" from "strong buy" after the company said second quarter results would be below expectations. In a report released on Wednesday, US Bancorp also dropped its 12-month target price for Check Point's shares to $55 from $75 to reflect 32 times estimated 2002 earnings per share (EPS). "We believe intensified competition is presenting challenges," the report said. US Bancorp also lowered its 2001 EPS forecast for Check Point to $1.27 from $1.37 and its 2002 EPS estimate to $1.72 from $1.88. Check Point's shares sank more than 12 percent to $44.55 on Nasdaq on Tuesday after it said second-quarter revenues would be slightly lower than expectations. ((Jerusalem newsroom, +972-2-537-0502, jerusalem.newsroom@reuters.com)) REUTERS