Pure Storage price target lowered to $105 from $110 at Citi

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.