JPMorgan lowered the firm’s price target on Pure Storage (PSTG) to $105 from $110 and keeps an Overweight rating on the shares following the fiscal Q3 report. The firm says the pace of the company’s spending increases “mitigated the flow-through of the upsides” on both revenue and gross margins. JPMorgan expects Pure’s revenue growth to accelerate in fiscal 2027, helped by the ramp of at least one hyperscaler customer.
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