TD Cowen raised the firm’s price target on Pure Storage (PSTG) to $100 from $85 and keeps a Buy rating on the shares. The firm said the problem is not that Street numbers will come down, but the company is guiding for a significant increase in OpEx which puts the OM expansion thesis on the sidelines, for now. There may be more volatility ahead but the trajectory seems to be on the right path.
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Read More on PSTG:
- Pure Storage price target raised to $60 from $55 at UBS
- Pure Storage price target lowered to $105 from $110 at JPMorgan
- Susquehanna downgrades Pure Storage to Neutral as hyperscaler revenue scales
- Pure Storage price target lowered to $105 from $110 at Citi
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