Pure Storage price target lowered to $90 from $100 at BofA

BofA analyst Wamsi Mohan lowered the firm’s price target on Pure Storage (PSTG) to $90 from $100 and keeps a Neutral rating on the shares. While channel checks indicate that Pure has not raised prices due to higher memory prices, price increases are “inevitable,” the analyst tells investors in a research note. The firm reduced estimates to reflect lower product margins.