BTIG Sees Pure Storage (PSTG) Shares Trading at 'Unwarranted Discount'; Affirms Buy Rating
- Wall Street set to open flat as investors test rally
- Western Digital (WDC) Raises Q2 Outlook
- Biotech, Pharma Stocks Weaker Amid Trump Comments on Lower Drug Prices
- Oil slips on doubts output cut will end global glut
- Pre-Open Stock Movers 12/07: (EMKR) (PLAY) (WDC) Higher; (SIGM) (AVAV) (BLUE) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
BTIG affirms Pure Storage (NYSE: PSTG) at Buy with a price target of $17 following Q3 results reported Wednesday night.
In part, the firm commented,
Pure Storage delivered a strong quarter, with revenue, operating margins, and outlook ahead of consensus. Importantly, operating losses continue to diminish in-line with commitments, improving line of sight to positive FCF generation towards the end of next calendar year. Overall, the company is demonstrating the strongest growth fundamentals we’ve seen from a pure-play storage company in years, underpinned by what we believe is a differentiated (and expanding) product set and a powerful go-to-market model. Stock trades at 2.4x FY18E EV/Revenue, an unwarranted discount.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
- BTIG Downgrades Essent Group (ESNT) to Neutral
- Western Digital (WDC): Raising PT After Analyst Day - Baird
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!