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Technology Stocks : Check Point Software (CHKP) -- Ignore unavailable to you. Want to Upgrade?

To: P.M.Freedman who wrote (2353)	5/4/1998 9:56:00 PM
From: Maverick	Read Replies (1) \| Respond to of 7150

PaineWebber sets target price of $45 By Briefing.com CHECK POINT SOFTWARE (CHKPF) 32 11/16 +4 1/4. Two weeks ago, CHKPF shares plunged 7 3/4 points in one trading session, as investors fled the scene on rumors that Microsoft was considering going up against the company. Well, they were a little more than just rumors: Israeli business paper Globes Arena quoted MSFT"s EVP of of sales as saying the company will increasingly compete with Check Point in the firewall software market. "If they want to cooperate, to create products for our platforms, we will be happy to tell them our plans," stated Steve Ballmer. "If they wish to compete, they are invited to choose to compete with us." According to Painewebber analyst James Preissler, who upgraded the stock today from "attractive" to "buy," investors overreacted to the threat. Given Microsoft's antitrust issues, Mr. Preissler believes that the concerns over the company entering the firewall business are overblown. Moreover, he believes that CHKPF has a large enough head-start to buffer the company from Microsoft (should it decide to compete) until CHKPF makes the migration to a full enterprise vendor. The optimistic comments have helped CHKPF shares recover all but 9/16 of the points lost since that April 23 dismantling. Over the next 12-months, the PaineWebber analyst believes CHKPF shares could climb an additional 38% to his $45 price target.