BofA raised the firm’s price target on Pure Storage (PSTG) to $100 from $95 and keeps a Neutral rating on the shares. Fiscal Q3 saw broad-based strength across Pure’s portfolio, but the company reported “a smaller than usual beat” on revenue and operating income, the analyst tells investors. Product growth has yet to re-accelerate and hyperscaler deals have yet to catalyze estimates, while investments and competitive dynamics create margin risk, the analyst added.
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