Wells Fargo Reiterates Overweight Rating on Pure Storage (PSTG)

Wells Fargo analyst Aaron Rakers reiterated an Overweight rating and $75.00 price target on Pure Storage (NYSE: PSTG).

The analyst comments "Expect Solid Operating Leverage @ Scale: Pure expects some customization w/ hyperscalers, but noted that deployments would likely be ~99% similar. We would expect similar / higher GM% on a hyperscaler deal (via licensing), and while Pure noted that it would likely be required to make some early investments into such an opportunity, the longer-term at scale opportunity should drive solid incremental operating leverage."

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 $65.96 yesterday.

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