Pure Storage Positioned For AI-Driven Growth: Analyst Sees 12% Revenue Surge Ahead

Pure Storage, Inc. PSTG shares are trading lower on Wednesday. Oppenheimer analyst Param Singh initiated coverage on the company with an Outperform rating and a price target of $70.The analyst’s bullish stance is due to the company’s position as a key beneficiary of the growing demand for unstructured data used in AI applications.Singh says that the data storage market is shifting towards all-flash arrays (AFA), expected to grow at an 8.5$17 billion.Pure Storage is well-po ...