Guggenheim upgraded Zscaler to Buy from Neutral with a $214 price target. While this is a "trust me story," the valuation here presents and opportunity to buy a category leader of a still nascent and hyper growth market, the analyst tells investors in a research note. Zscaler's relevance is likely to grow in the era of AI, especially with the C-level executives it intends to do business with that believe in Zero Trust security, the firm adds.
