Citi analyst Ronald Josey raised the firm’s price target on Pinterest to $44 from $41 and keeps a Buy rating on the shares. Citi also added an “upside 90-day short-term view” on Pinterest. It says Pinterest’s engagement and monetization growth amid an improving online advertising macro backdrop has made it incrementally positive on the shares. After attending the Cannes Lions International Festival of Creativity, the firm is “incrementally positive” on the broader online advertising macro environment, artificial intelligence innovation, and key growth drivers of the web. Citi emerged with a positive read through across the sector, and raised projections for Meta Platforms (META), Alphabet (GOOGL), Reddit (RDDT), and Pinterest (PINS). It sees an Improving digital advertising market, with generative AI user adoption ramping as marketers prep for an agentic world.
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