Wedbush favours cybersecurity vendors amid Russia-Ukraine conflict

Tenable Holdings

28/02/2022 18:04

** Wedbush says cybersecurity vendors may benefit from
potential cyber warfare after severe sanctions were imposed by
Western nations on Russia after its invasion of Ukraine
    ** It emphasises the Western decision to remove selected
Russian banks from the SWIFT global system, constituting a major
catalyst for potential Russia-based cyberattacks   
    ** "We now expect unfortunately a significant ramp-up of
cyber warfare by Russian nation-state backed organizations over
the coming weeks," it says
    ** According to Wedbush, the Cybersecurity and
Infrastructure Security Agency recently released "Shields Up"
guidance to prevent password breach or denial of access among
other attacks
    ** The broker believes the ongoing conflict is likely to
further increase demands in an already vulnerable environment,
and flags that several public and private institutions are now
investing in security technologies
    ** It expects cyber security vendors to benefit from this
chaotic context
    ** Wedbush cites U.S.-based CyberArk Software  CYBG.F ,
Microsoft  MSFT.O , Palo Alto  PANW.O , Tenable  TENB.O  and
Zscaler  ZS.O  as the core beneficiaries, giving them all
"outperform" rating 
    ** It also cites Telos  TLS.O , and gives it "neutral"
rating

 (Reporting by Dina Kartit; editing by Jonathan Oatis)
 ((dina.kartit@thomsonreuters.com))