Evercore ISI lowered the firm’s price target on Pure Storage to $70 from $75 and keeps an Outperform rating on the shares. While the firm “understands the disappointment” in the lower Evergreen //One TCV revenue run-rate for FY25, it adds that its sense is the guide for FY25 is likely derisked and barring a macro shock the potential is for revenue growth to accelerate and Pure to have a formal hyperscale announcement in the second half.
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