BofA analyst Wamsi Mohan raised the firm’s price target on Pure Storage to $50 from $42 and keeps a Neutral rating on the shares. Q4 revenue and EPS beat the firm’s estimates and Street estimates while the company issued better-than-expected FY25 guidance despite a bigger headwind from Evergreen, the analyst tells investors. However, the firm views the risk/reward being balanced as higher mix of SaaS rev and next-generation Flash product is balanced by risk from weaker macro and potential competitive threats.
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