DA Davidson initiates Pinterest with 'buy' and $26 PT
BUZZ-DA Davidson initiates Pinterest with 'buy' and $26 PT ** D.A. Davidson & Co initiates Pinterest PINS.N coverage with "buy" rating and $26 PT, implying ~16% upside to the stock's last close
** PINS ad suite Performance+ feels more user friendly vs. some of the other automated offerings out there - brokerage
** There have been continued challenges from large retailers navigating tariffs which actually enabled PINS to focus on other categories to reduce large retail concentration - brokerage
** The sales reorg will be a near-term challenge internationally but should allow PINS to deliver stronger international growth in the coming years - brokerage
** 18 of 38 brokerages rate the stock "buy" or higher and 20 "hold"; their median PT is $27 - data compiled by LSEG
** Shares of PINS up 0.8% at $22.60 in extended trading
** Up to last close, stock down ~13% this year
(Reporting by Jaspreet Singh in Bengaluru)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))
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