A banner day for Pinterest; IBM picks up an upgrade: 5 big analyst picks
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 (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.
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 InvestingPro.
RBC said it is «optimistic on the competitive positioning and unique role» that the tech giant holds in the technology ecosystem. It believes that IBM's value proposition is best exemplified by its ability to facilitate efficient digital transformation through consulting and software.
The analysts also argue that IBM's software
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