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Fly News Breaks for January 15, 2019
ZS
Jan 15, 2019 | 08:09 EDT
As previously reported, Morgan Stanley analyst Melissa Franchi downgraded Zscaler to Underweight from Equal Weight and trimmed her price target on the stock to $40 from $41, citing high investor expectations, the company's still vacant head of Sales role and "competitive noise that's only getting louder." Stating that she believes the stock is "priced to perfection," Franchi predicts Zscaler will be a relative underperformer, especially given that other secularly attractive security names are now trading at a meaningful discount to growth.
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