Mizuho upgraded Zscaler (ZS) to Outperform from Neutral with an unchanged price target of $310. The firm cites valuation for the upgrade, saying the shares are now “too attractive to ignore.” Zscaler has sold off despite reporting a “very solid” fiscal Q1 report, the analyst tells investors in a research note. Mizuho is confident that Zscaler remains “very well-positioned” within zero trust. With the stock down 31% since the end of October, investors “are now being very well-compensated for the obfuscation,” the analyst tells investors in a research note.
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