Pinterest upgraded to Buy from Hold at Pivotal Research

Pivotal Research analyst Michael Levine upgraded Pinterest to Buy from Hold with a price target of $44.50, up from $22. The stock closed Friday up 36%, or $9.10, to $34.29. The share rally is not done following the company's "strong" Q2 results on Friday, Levine tells investors in a research note. What was "astounding" was the 50% revenue growth rate seen through July, and its full quarter guidance of 35% year-over-year growth versus the Street modeling 5% growth, adds the analyst. Levine says this was the "inflection point" he had been waiting to see.