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Fly News Breaks for August 22, 2018
PSTG
Aug 22, 2018 | 06:12 EDT
Piper Jaffray analyst Andrew Nowinski raised his price target for Pure Storage to $28 from $26 citing the company's "solid" Q2 results. Ramping NVMe adoption is driving win rates and growth higher, Nowinski tells investors in a post-earnings research note. Given the declining NAND prices, the analyst expects demand to remain strong going forward. He now believes Pure Storage is preparing to launch a new software-only solution that can be deployed in the public cloud, which he says will enable the company to "maintain these strong win rates and growth." Nowinski reiterates an Overweight rating on Pure Storage.
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