RBC Capital analyst Brad Erickson upgraded Pinterest to Outperform from Sector Perform with a price target of $46, up from $32. Pinterest “stands out” as a way to play the shift of intent-based advertising platforms chasing impulse shopping’s $241B ad spend, the analyst tells investors in a research note. The firm believes Pinterest is an attractive story underpinned by channel checks indicating key product cycles starting to work, positive ad load analysis and attractive comps.
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