Morgan Stanley analyst Erik Woodring lowered the firm’s price target on Pure Storage (PSTG) to $83 from $90 and keeps an Equal Weight rating on the shares. Results show clear outperformance compared to legacy storage peers and hyperscale shipment upside is a positive, but a possible mix shift to subscription and continued investment intensity limit earnings flow-through in FY27, the analyst tells investors in a post-earnings note.
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