Pinterest price target raised to $49 from $43 at Loop Capital

Loop Capital analyst Rob Sanderson raised the firm’s price target on Pinterest to $49 from $43 and keeps a Buy rating on the shares after its Q1 earnings beat last week. The bull case for the stock has been progressing for some time and now appears to have hit an inflection, with the company benefiting across each of its four key growth drivers – users and engagement, ad load, lower-funnel capabilities, and enhancing demand with third-party partners, the analyst tells investors in a research note.