Pinterest price target raised to $29 from $26 at UBS

UBS raised the firm’s price target on Pinterest (PINS) to $29 from $26 and keeps a Buy rating on the shares. Top-line growth reacceleration depends on Pinterest’s ability to scale its platform and increase utility across the advertising funnel, the analyst tells investors in a research note. While Performance+ continues to perform well with advertisers, concerns remain around a relatively limited audience base and potential budget share loss to competitors like TikTok, with recent checks suggesting the tvScientific acquisition is unlikely to be a meaningful near-term catalyst, the firm says.