1 Wall Street Analyst Thinks PureStorage Stock Is Going to $66. Is It a buy Around $55?
According to one analyst, one way to secure a more than 20% gain on the stock exchange is to plow some money into shares of Pure Storage (NYSE: PSTG). This market pundit initiated coverage of the specialty tech company in early March with a confident "buy" recommendation. Is it justified? Let's pick it apart a bit and explore.
The new Pure Storage bull is Needham's Mike Cikos. He thinks the stock can go 22% higher from its present level, as he set a price target of $66 per share.
Cikos feels that the company's management has proven itself adept at building its business, at the expense of its peers. That, combined with cutting-edge technology, is pushing the fundamentals higher.
Source Fool.com
