Pinterest price target raised to $29 from $27 at Roth MKM

Roth MKM analyst Rohit Kulkarni raised the firm’s price target on Pinterest to $29 from $27 but keeps a Neutral rating on the shares. The company’s Q2 results saw a “small” beat and guidance raise, though active user growth in key geographies remained “soft and stagnant”, the analyst tells investors in a research note. The firm adds however that the setup for the first half of the year is “improving”.