UPDATE: Oppenheimer Raises PT on Check Point Software TechnologiesTechnologies

Oppenheimer is out with its report today on Check Point Software Technologies (NASDAQ: CHKP), raising its PT from $60 to $63.

In a note to clients, Oppenheimer writes, "Raising PT to $63 from $60, or 20x our FY12E EPS. PT further supported by ~$11.97 net cash/share. Reiterate Outperform."

Shares of CHKP closed Friday at $56.75.