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Fly News Breaks for June 18, 2019
PSTG
Jun 18, 2019 | 08:14 EDT
Cowen analyst Karl Ackerman said Pure Storage remains in the top quintile of revenue growth for IT hardware and he expects the company to double revenues and nearly quadruple earnings from 2018 to 2021. He sees its portfolio transforming toward a higher-margin, software-centric model as the company remains unencumbered by legacy hard-disk drive technology. Ackerman reiterated his Outperform rating and $28 price target on Pure Storage shares.