Pinterest has already earned a recommendation from Wall Street and it's not even listed on public exchanges yet.
div > div.group > p:first-child"> London-based U.S. equity brokerage firm Atlantic Equities on Tuesday initiated coverage on Pinterest with an overweight rating and a $23 year-end price target. This comes one day after the image-sharing social network set a price range of $15 to $17 per share for its initial public offering of 75 million shares. Pinterest will list under the ticker"PINS" on the New York Stock Exchange.
Pinterest's price range is seen as a discount from the company's most recent valuation on the private markets, which was $12 billion in its last fundraising round in 2017. The upper end of the target range will put Pinterest at just $11.3 billion. While bullish on Pinterest, Atlantic Equities still has some concerns about the company's"weaker engagement" than other social media platforms like Twitter and Facebook.
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