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Fly News Breaks for May 22, 2018
PSTG
May 22, 2018 | 09:44 EDT
BMO Capital analyst Tim Long raised his price target on Pure Storage to $29 after its Q1 results, with revenue and operating margins exceeding the company's prior forecasts. The analyst believes that operating profitability can be expanded further to reach high single digits in FY20 while also noting the near-doubling of Q1 international business. Long keeps his Outperform rating on Pure Storage, adding that the company has the flexibility to pursue M&A following its recent debt offering.
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