Wells Fargo lowered the firm’s price target on Pinterest (PINS) to $35 from $36 and keeps an Overweight rating on the shares. Overcoming investor trepidation, the firm sees Investor Day takes as constructive. Wells notes that the 3-5 year financial guide threads the needle, with mid-high teens revenue CAGR appropriate, and low-30% margin target conservative. Lower-funnel initiatives promising but the firm wanted more on Amazon (AMZN).
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