Pure Storage shares are trading lower after Raymond James downgraded the stock from Strong Buy to Outperform but raised its price target from $52 to $63.
Portfolio Pulse from Benzinga Newsdesk
Pure Storage's stock (PSTG) trades lower following a downgrade by Raymond James from Strong Buy to Outperform, despite an increase in the price target from $52 to $63.
April 19, 2024 | 2:14 pm
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Pure Storage's stock trades lower after Raymond James downgraded it, although the price target was raised.
The downgrade from Strong Buy to Outperform by Raymond James, despite the raised price target, suggests a tempered outlook on PSTG's immediate growth prospects. This mixed signal can lead to short-term negative sentiment among investors, causing the stock to trade lower.
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