Pinterest price target raised to $50 from $48 at RBC Capital

RBC Capital analyst Brad Erickson raised the firm’s price target on Pinterest (PINS) to $50 from $48 and keeps an Outperform rating on the shares. The company’s Q4 report was better-than-feared as its strategy of improving user engagement, increasing its density of quality advertising content and delivering more lead-gen volume and value to its advertisers is starting to bear fruit, the analyst tells investors in a research note. Pinterest is just beginning to improve its capture of value already being created along with leveraging content to drive incremental engagement, the firm added.