"Mizuho initiated coverage of Pinterest () with an Outperform rating and $50 price target The company is is well positioned across several sector bull theses, including machine learning improving advertising technology, onboarding and campaign management expanding the total addressable market, the analyst tells investors in a research note. Mashup views Pinterest as an upward estimate revision and multiple expansion story."
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Mizuho initiated coverage of Pinterest with an Outperform rating and a $50 price target. The firm states that Pinterest is well positioned across several sector bull theses. Machine learning advancements are improving the company's advertising technology and targeting capabilities. Improved onboarding and expanded campaign management tools are enlarging the total addressable market for advertisers. Those operational and product developments support potential upward estimate revisions and valuation multiple expansion. The combined improvements could drive higher monetization, stronger advertiser adoption, and re-rating of the stock toward the stated price target.
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