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Fly News Breaks for May 22, 2019
PSTG
May 22, 2019 | 08:03 EDT
Credit Suisse analyst Matthew Cabral lowered his price target for Pure Storage to $18 from $23 after the company posted "disappointing" Q1 results, with sales coming in short estimates and below guidance, due to execution issues around increased sales capacity and fewer large deals getting across the finish line. While these appear more company-specific in nature, they likely "won't calm increasing investor angst over the health of the wider all-flash market," he contends. Cabral reiterates a Neutral rating on the shares.
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