HSBC lowered the firm’s price target on Pinterest (PINS) to $32.70 from $46.30 and keeps a Buy rating on the shares. In light of current macro headwinds, the firm revisited social media and AdTech names under its coverage and lowered revenue growth forecasts by 300-500 basis points for FY25 and by 200-300 points for FY26 to better reflect the more-sluggish near-to-medium-term global ad demand outlook.
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