Morgan Stanley's bull case on this cybersecurity stock could see shares nearly double.
Morgan Stanley thinks Varonis Systems could be in for major gains thanks to artificial intelligence. The firm upgraded the software stock to overweight from equal weight in a Monday note. Its bull case sees Varonis rallying to $62. That implies upside of 102% from Friday's close. Varonis provides security software for unstructured data vulnerable to cyber attacks. Analyst Hamza Fodderwala said the growth of generative AI will help the drive company growth, which investors may be overlooking.
mountain Varonis Systems stock. — CNBC's Michael Bloom contributed to this report.
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