Shares of data storage software and hardware company Pure Storage (NYSE: PSTG), charged higher Thursday, climbing as much as 5.5%. As of 2:53 p.m. ET, the stock was still up 5.2%.

The general market updraft no doubt helped provide momentum, but the catalyst that drove the data storage specialist higher was some positive commentary by a Wall Street analyst.

Analysts at Bank of America addressed Pure Storage ahead of the company's fourth-quarter results, which are scheduled to be released later this month. BofA analyst Wamsi Mohan maintained a neutral rating on the stock but raised the stock's price target to $42, up from $36, according to The Fly.

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Source Fool.com