** Shares of video conferencing firm Zoom Communications ZM.O up 2.2% to $83.87 before the bell as Jefferies upgrades to 'buy' from 'hold', citing potential for AI monetization to accelerate rev growth

** Jefferies hikes PT by $15 to $100, implying ~22% upside to stock's last close

** Co's plans to monetize product innovation through its AI Companion Add-on launch marks positive strategy shift, Jefferies analyst Samad Samana says in note, adding "even single-digit adoption could materially impact FY26 rev growth"

** AI products will embed ZM's platform into some enterprise workflows, increasing "stickiness and reducing churn," Samana said

** Samana also thinks management's "soft guidance" for anticipated F4Q25 exit growth rate (+2.7% y/y) sets a "reasonable bar" for FY26

** Last month, ZM's low single-digit annual rev growth forecast disappointed Wall Street, as it faces stiff competition from Microsoft's MSFT.O Teams and Cisco's CSCO.O Webex

** Now, of 33 analysts covering ZM, recommendation breakdown is 4 "strong buy", 8 "buy", 19 "hold" and 2 "sell" ratings; median PT of $91.40 up from $75 a month ago, per LSEG data

** Through Weds close, shares up 14% YTD. Stock's 1-yr low is $55.06 (Aug 12) and 52-week high is $92.80 (Nov 25)

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))