HSBC initiated coverage of Pinterest with a Buy rating and $32.10 price target. The company’s new CEO moved away from competing head on in the short-form videos space, enhanced operations and margins, and built upon Pinterest’s reputation for a positive user environment to better attract advertisers, the analyst tells investors in a research note. The firm believes the company has the right management team in place.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on PINS:
- Pinterest put volume heavy and directionally bearish
- Buy/Sell: Wall Street’s top 10 stock calls this week
- Pinterest Investor Day tone constructive, says Roth MKM
- #SocialStocks: Growth prospects of Pinterest elevate shares
- Pinterest upgraded, Dollar General downgraded: Wall Street’s top analyst calls