Pure Storage price target raised to $40 from $34 at Lake Street

Lake Street analyst Eric Martinuzzi raised the firm’s price target on Pure Storage to $40 from $34 and keeps a Buy rating on the shares following the company’s Accelerate customer conference and associated event for financial analysts in which the company provided a deep dive into its products and technology. The firm came away from the events with “a better appreciation for the company’s expanded product portfolio” and ability to increase its customer wallet share and it believes recent product launches will be “received well by the installed base and derisk achievement of guidance.”