Pure Storage rises after inclusion in S&P mid-cap index, Stifel PT raise
03/01/2024 14:05
** Shares of data storage co Pure Storage PSTG.N rises
6.2% to $36.98 premarket
** Co to join S&P 400 mid-cap index .IDX effective from
the start of the Jan. 5 trading session, replacing dental and
animal health products co Patterson Cos PDCO.O , which moves to
S&P 600 small-caps index .SPCY
** PDCO replaces Chico's FAS CHS.N on SPCY
** "Patterson Companies has a market capitalization that is
more representative of the small-cap market space," S&P Dow
Jones Indices says in a statement
** Separately, Stifel hikes PT on PSTG to $41 from $38,
saying storage vendors are expected to gain market share as
companies modernize their data centers away from hard disk
drives
** PSTG has a market cap of $11 bln as of the last close,
while PDCO was valued at $2.7 bln and CHS at about $940 mln
** In the past 12 months, PSTG rose ~30%, while PDCO gained
2% and CHS 54%
(Reporting by Medha Singh)
((medha.singh@thomsonreuters.com))