Piper Jaffray analyst Andrew Nowinski raised his price target for Pure Storage to $21 from $16 and reiterates an Overweight rating on the shares after traveling with management. While the July quarter proved to be a disappointment after management lowered the annual outlook, Pure Storage is "still the top-performing vendor in the market by a wide margin," Nowinski tells investors in a research note. He believes the company's competitive position in the all-flash market is still "very strong" and that revenue growth expectations could prove to be too conservative.