KeyBanc analyst Justin Patterson raised the firm’s price target on Pinterest to $45 from $43 and keeps an Overweight rating on the shares. The firm’s checks suggest the ad market remained solid in Q3. Coupled with more favorable movements in several key currencies, KeyBanc expects to see upside to Street revenue and profitability forecasts at Pinterest. While the firm doubts companies guide aggressively into Q4 amid macro instability and a shorter holiday selling season, it believes product cycles at Pinterest will likely sustain solid growth into 2025.
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