UBS upgraded Pinterest (PINS) to Buy from Neutral with a price target of $35, up from $27, representing 27% upside. The analyst views Pinterest as an "event-driven positive catalyst and an estimate revision opportunity." The company’s moves in advertising technology can drive a "step function" improvement in its revenue growth, the analyst tells investors in a research note. The firm says early advertiser feedback on the LiveRamp (RAMP) partnership alone suggests "significant improvement" in ad efficacy that should drive budget while further monetization partnerships could unlock incremental demand.
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