Pure Storage price target raised to $72 from $62 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Pure Storage (PSTG) to $72 from $62 and keeps an Equal Weight rating on the shares. Networking saw “bifurcated performance in 2024,” with AI-enablers meaningfully outperforming, notes the analyst, who expects AI-share gainers and enterprise exposed names to outperform in 2025. The firm is “more cautious” on service provider names given a recovery is built in, the analyst tells investors in a 2025 outlook note for the Telecom and Networking Equipment group.