JPMorgan analyst Samik Chatterjee raised the firm’s price target on Pure Storage (PSTG) to $105 from $80 and keeps an Overweight rating on the shares. The company has an existing engagement with a hyperscaler customer for mass scale deployment of QLC-based flash in the warm data layer, directly competing with hard disk drives, the analyst tells investors in a research note. The firm upped its estimates for Pure Storage to reflect the hyperscaler opportunity.
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