Pure Storage price target raised to $42 from $34 at Morgan Stanley

Morgan Stanley analyst Meta Marshall raised the firm’s price target on Pure Storage to $42 from $34 and keeps an Overweight rating on the shares after attending the Pure//Accelerate event and having walked away “encouraged” that the company is expanding into new markets by developing down the storage cost curve and “improving their competitive position as they go along.” The event “highlighted the technological foundations that differentiate Pure today and why these differentiations should continue to grow in coming years,” the analyst tells investors.