Morgan Stanley raised the firm’s price target on Pure Storage (PSTG) to $84 from $83 and keeps an Equal Weight rating on the shares. FY27 guidance exceeded the firm’s expectations, but limited visibility on memory pricing, supply and second half demand keeps the firm on the sidelines, the analyst tells investors.
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Read More on PSTG:
- Pure Storage price target lowered to $90 from $100 at Wells Fargo
- Everpure: Solid Execution and Upbeat Outlook Offset by Industry Headwinds and Dilutive Acquisition, Justifying Hold Rating
- Everpure: Strong Q4 Execution, AI-Driven Demand, and Expanding Enterprise Cloud Adoption Support Buy Rating Through FY27
- Pure Storage sees FY27 revenue $4.3B-$4.4B, consensus $4.27B
- Pure Storage reports Q4 non-GAAP EPS 69c, consensus 64c