Raymond James Upgrades Pure Storage (PSTG) to Strong Buy

March 15, 2021 7:11 AM EDT
Get Alerts PSTg Hot Sheet
Price: $21.64 -0.05%

Rating Summary:
    26 Buy, 6 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 14 | New: 42
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Raymond James analyst Simon Leopold upgraded Pure Storage (NYSE: PSTG) from Outperform to Strong Buy with a price target of $30.00.

The analyst comments "We upgrade Pure Storage to Strong Buy rating (from Outperform) following fundamental checks and trading analysis. Shares have suffered from unfavorable trading flows, in part a victim of the value rotation from growth. Pure generates cash, which should separate it from the crowd. We remain optimistic that the lower priced FlashArray//C, FlashBlade and Portworx acquisition enable Pure to gain share and maintain at least mid-teens sales growth. Our target remains $30, offering over 30% upside."

For an analyst ratings summary and ratings history on Pure Storage click here. For more ratings news on Pure Storage click here.

Shares of Pure Storage closed at $23.04 yesterday.



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