The shares of IT security company FireEye (FEYE) are jumping after Morgan Stanley upgraded the stock to Overweight from Equal Weight. As reasons for the upgrade, the firm cited the convenience of the company’s new Helix solution, the “stabilization” shown by its second quarter results, and the upbeat checks conducted by the firm.

HELIX: The product makes FireEye “more of a ‘one-stop shop’,” enabling it to better exploit the trend towards consolidation in the IT security space, according to Morgan Stanley analyst Melissa Franchi. Based on FireEye’s Q2 results and a customer survey conducted by Morgan Stanley, the analyst believes that adoption of Helix is significantly exceeding the pace reflected by consensus estimates for the company.

STABILIZATION, SURVEY: Investors appear to be pricing in further declines in FireEye’s subscriber base, but the “stabilization” shown by the company’s Q2 results, “positive spending indications” reflected by the firm’s survey “and a building renewal base” all contradict this belief, according to Franchi. OUTLOOK: Franchi estimated that FireEye’s fiscal billings would increase 15% to $888M, 5% above the consensus outlook. If FireEye meets this estimate, which Franchi believes is conservative, its stock should “move towards” the analyst’s price target of $19, she stated. But Helix’s popularity could enable the shares to reach $33, she wrote.

PRICE ACTION: In morning trading, FireEye jumped 7% to $15.75 per share.