Pinterest price target lowered to $35 from $37 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Pinterest (PINS) to $35 from $37 and keeps an Equal Weight rating on the shares. The company needs to durably maintain revenue growth in the mid to high teens, or possibly accelerate to the 20s, in order to be a consistent out-performer but its next few quarters face challenging compares that the firm sees holding back growth and more than offsetting micro-level innovation, the analyst tells investors in a research note.