BMO Capital lowered the firm’s price target on Pinterest (PINS) to $40 from $46 and keeps an Outperform rating on the shares after its Q1 results. The company’s continued momentum with lower funnel Ad tools positions Pinterest well to capture increasing wallet share amid higher engagement from improvements in visual search, though the firm’s reduced price target reflects lower-than-expected EBITDA guidance at the midpoint, the analyst tells investors in a research note.
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