Raymond James Downgrades Pure Storage to Outperform, Raises Price Target to $63
Portfolio Pulse from Benzinga Newsdesk
Raymond James analyst Simon Leopold downgraded Pure Storage (NYSE:PSTG) from Strong Buy to Outperform while raising the price target from $52 to $63.
April 19, 2024 | 2:12 pm
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Pure Storage was downgraded from Strong Buy to Outperform by Raymond James, but its price target was increased from $52 to $63.
The downgrade from Strong Buy to Outperform might initially seem negative, but the increase in price target from $52 to $63 indicates a positive outlook on the stock's potential. This mixed signal could lead to short-term uncertainty among investors, balancing out potential short-term price movements.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100