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Raymond James starts Pinterest with Outperform on steady user growth

Raymond James analyst Aaron Kesler initiated coverage of Pinterest with an Outperform rating and $33 price target. The analyst says Pinterest’s "unique" visual discovery platform and high intent user base provides an attractive platform for advertisers. The firm expects steady user growth going forward and increasing engagement metrics driven by the company’s international expansion and increasing personalization. It sees double-digit long-term revenue growth believes Pinterest’s longer term EBITDA margins can return to 30%-plus.

Published first on TheFly

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