Pinterest price target lowered to $39 from $48 at Benchmark

Benchmark lowered the firm’s price target on Pinterest (PINS) to $39 from $48 and keeps a Buy rating on the shares following what the firm calls “a second consecutive quarter of disappointing” U.S. and Canada segment results. The firm sees this as likely leaving the stock in a lower trading range until the company can “tangibly convey and deliver on a strategy to reaccelerate this most profitable segment,” the analyst tells investors.