Wells Fargo analyst Ken Gawrelski raised the firm’s price target on Pinterest (PINS) to $47 from $39 and keeps an Overweight rating on the shares. The firm says that while Q4 is ahead, the real story is the Q1 guide, which came in well above market fears. The medium-term revenue guide of mid-high teens appears very much intact. For next leg of growth, Wells looks to improving conversion driving ad pricing.
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