JP Morgan Maintains Overweight on Pure Storage, Lowers Price Target to $40
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Pinjalim Bora has maintained an Overweight rating on Pure Storage (NYSE:PSTG) but reduced the price target from $45 to $40.
November 30, 2023 | 7:29 pm
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JP Morgan has maintained an Overweight rating on Pure Storage but lowered the price target from $45 to $40, indicating a positive outlook with a reduced growth expectation.
While the Overweight rating suggests that JP Morgan still sees Pure Storage as a good investment, the reduction in the price target could imply a tempered expectation for the stock's growth potential in the short term. This might lead to mixed reactions in the market, with some investors seeing the lowered target as a sign of caution, while others may focus on the continued positive rating.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100