Pinterest price target lowered to $41 from $49 at Wells Fargo

Wells Fargo lowered the firm’s price target on Pinterest (PINS) to $41 from $49 and keeps an Overweight rating on the shares. More expectations miss than macro impact, despite return of some food and beverage ad weakness, the firm says. Wells believes Pinterest shares are pricing in further macro weakness, and says that while Meta (META) EPS print and guide are critical to sector, it leans tactically constructive here.