Pure Storage price target raised to $73 from $63 at Raymond James

Raymond James raised the firm’s price target on Pure Storage to $73 from $63 and keeps an Outperform rating on the shares. While the mix shift might not have met Street expectations, it met the firm’s estimates with Subscription Services sales matching Product sales for the first time, the analyst tells investors in a research note. Raymond James sees Pure Storage benefiting from the new E Series product ramp and AI use cases down the road.