Credit Suisse owns 11,076,059 Check Point shares, for a stake of 5.35%, worth $640 million.
Credit Suisse Group AG (NYSE: CS; SWX: CSGN; XETRA: CSGZ) has become a party at interest in Check Point Software Technologies Ltd. (Nasdaq: CHKP), according to a company filing with the US Securities and Exchange Commission (SEC).
Check Point reported that Credit Suisse owns 11,076,059 shares, for a stake of 5.35%. At yesterday's closing price, the stake is worth $640 million.
Credit Suisse's research department gives Check Point an "Outperform" recommendation, with a target price of $67.50.
Check Point's share price fell 0.5% yesterday to $58.09, giving a market cap of $12.1 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on February 9, 2012
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