Cowen analyst Karl Ackerman upgraded Pure Storage to Outperform from Market Perform as he expects Samsung (SSNLF), which controls about 38% of the NAND market, to maximize share over profits, which he thinks should push NAND prices down at least 40% for calendar 2019. Pure Storage (PSTG) is the most significant beneficiary of this dynamic and a "pure play" on NAND oversupply, said Ackerman, who sees demand elasticity for all-flash arrays, most notably Pure Storage's all-flash array portfolio. He raised his price target on Pure Storage shares to $30 from $20, stating that he believes the company's transformation toward a Storage-As-A-Service model warrants a higher stock multiple.