Pinterest price target raised to $22 from $19 at Morgan Stanley

Morgan Stanley analyst Brian Nowak raised the firm’s price target on Pinterest to $22 from $19 and keeps an Equal Weight rating on the shares. Revenue was "a bit below expectations," but the company showed discipline and is operating more efficiently, as well as being set to reduce operating expenses and improve profitability "significantly" in 2023/24, the firm said. The firm will be looking for further evidence of scalability into the company’s analyst day and beyond, the analyst added.