Barclays raised the firm’s price target on Pinterest to $29 from $27 and keeps an Equal Weight rating on the shares following the Q3 report. The Pinterest story remains on solid footing amid the digital ad volatility in 2023, and has set the stage for another solid year in 2024, the analyst tells investors in a research note. The firm says the combination of increasing engagement and ad load at the same time is something it does not often see in the space, and bodes well for solid financial performance going forward.
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