** Shares of content-delivery network company Fastly

jump 17.9% to $9.98, hitting a seven-month high of $10.32 earlier in the session

** Oppenheimer upgrades stock to "outperform" from "perform"; price target $12

** FSLY should benefit from Edgio's bankruptcy at that same time that Internet volumes and pricing are improving - brokerage

** Brokerage expects strong demand for FSLY's edge compute and security products driven by new AI applications

** Over 75% of co's revenue is content delivery network-related and the industry has now consolidated down to a three player market from six in 15 months with FSLY the premium provider- brokerage

** Avg. rating of 11 brokerages covering stock is "hold"; median PT is $8 - LSEG data

** Including session's move, stock down 43.8% YTD

(Reporting by Sukriti Gupta in Bengaluru)

((Sukriti.Gupta@thomsonreuters.com;))