Pure Storage price target lowered to $42 from $50 at TD Cowen

TD Cowen analyst Krish Sankar lowered the firm’s price target on Pure Storage to $42 from $50 and keeps an Outperform rating on the shares. The firm said the company’s miss on the guide was disappointing and totally unexpected, particularlypeer’s results and that macro is not worsening, which confirms their view of being in the last stages of the enterprise down cycle.