Wells Fargo lowered the firm’s price target on Pinterest (PINS) to $35 from $42 and keeps an Overweight rating on the shares. The firm notes Q3 was near high end of guidance, but Q4 guide fell short on tariff-related macro weakness in U.S. and Canada. Q4 is expected to be the first quarter in 2 years below “high teens” on constant FX. Wells previewed retail ads weakness, but guide suggests more caution was warranted.
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