Morgan Stanley upgraded Pinterest’s stock rating to buy-equivalent, with shares nearing a potential buy point after a long double-bottom base. Analyst Brian Nowak emphasized the positive impact of Pinterest’s AI investments on its advertising business, forecasting significant acceleration in earnings potential. Notable features include the launch of the Pinterest Performance+ suite, which optimizes user targeting for advertisers. Nowak projected a price target of 45 for Pinterest stock, still below valuations of competitors like Snap, as the AI landscape heats up with increased competition, especially from Meta Platforms.
Morgan Stanley upgraded Pinterest to a buy-equivalent rating, highlighting that the company's AI investments are boosting its advertising business and engagement.
Analyst Brian Nowak noted that Pinterest's investments in GPU-enabled innovation are enhancing advertising efficiency and relevancy, contributing to underappreciated acceleration and earnings power.
Pinterest launched the Performance+ suite to optimize user targeting and budget management for advertisers, demonstrating a key differentiator with its AI capabilities.
Nowak set a price target of 45 for Pinterest stock, underscoring a competitive valuation compared to peers like Snap, amid increased competition in AI.
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