A banner day for Pinterest; IBM picks up an upgrade: 5 big analyst picks
Investing.com | Author Davit Kirakosyan
Published Sep 20, 2023 06:44
Investing.com -- Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: an Outperform initiation for IBM, and upgrades for Pinterest, Royal Caribbean , Carnival, and Methanex.
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Pinterest gets Buy rating at Citi after analyst day/h2
Pinterest (NYSE:PINS) was raised to Buy/High Risk from Neutral at Citi on Wednesday with a $36.00 price target, up from the prior $31.00.
The move came after Citi analysts attended the image sharing platform's analyst day, which gave them confidence in the ongoing turnaround there and in the shares' "positive" risk-reward.
Analysts wrote to clients that they were "incrementally confident that engagement can continue to ramp, that ads innovation and its full-funnel approach to advertising can deliver improving monetization trends, and that adj. EBITDA margins can expand going forward."
"Simply put," they added, "we believe Product investments over the past year+ are improving the user experience and we note greater relevance and personalization of content across the platform."
Pinterest shares closed 3.2% higher after the ebullient analyst day on Tuesday, and the stock was recently up another 3.9% in Wednesday's premarket to $27.24.
IBM started with Outperform at RBC Capital /h2
RBC Capital initiated coverage on IBM (NYSE:IBM) with an Outperform rating and a price target of $188.00 early Wednesday morning, as reported in real-time on
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