Pure Storage price target raised to $65 from $55 at Citi

Citi analyst Asiya Merchant raised the firm’s price target on Pure Storage (PSTG) to $65 from $55 and keeps a Buy rating on the shares as part of an earnings preview for the North America hardware group. The firm increased estimates slightly to reflect upside revision to Citi’s U.S. real GDP growth forecast and first half of the year PC pull forward. Looking ahead, Citi continues to see fundamental pressures on enterprise capex spending as long as tariff uncertainty looms. The analyst thinks the companies could see pushouts and lengthening sales cycles amid rising economic uncertainty and weakening business sentiment.