Zscaler price target raised to $155 from $145 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Zscaler to $155 from $145 and keeps an Equal Weight rating on the shares. The firm’s latest checks and VAR survey suggest security demand is nearing a trough after a weaker first half, says the analyst, who expects new bookings to modestly accelerate by Q4 on easier comps and a “slightly stronger budget flush” than last year. Zscaler screened as the leading share gainer in SASE “by a wide margin in our VAR survey,” the analyst added.