Roth MKM raised the firm’s price target on Pinterest (PINS) to $40 from $38 and keeps a Neutral rating on the shares. The company reported a “big” Q1 results and guided Q2 above expectations, while its management sounded upbeat about growing traction with bottom-of-funnel direct response ads and supporting ad-tech, the analyst tells investors in a research note. Roth adds it has incremental positive bias on Pinterest, particularly amid healthier macro and possibly rising contribution from Amazon Ads (AMZN).
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