Citi lowered the firm’s price target on Pure Storage (PSTG) to $105 from $110 and keeps a Buy rating on the shares. The company reported a “beat-and-raise” quarter but the stock sold off no hyperscaler win was announced, the analyst tells investors in a research note. Citi thinks investors will want additional details before buying the stock but points out that management sounded constructive on acceleration in Pure Storage’s enterprise demand.
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Read More on PSTG:
- Pure Storage downgraded to Neutral from Positive at Susquehanna
- Pure Storage’s Strong Performance and Future Potential: A Buy Rating by Jason Ader
- Pure Storage price target raised to $77 from $70 at Barclays
- Pure Storage’s Strong Performance and Strategic Initiatives Justify Buy Rating
- Positive Outlook for Pure Storage: Strong Revenue Growth and Strategic Shifts Support Buy Rating