Pinterest Inc. (NYSE:PINS) is a top communication services stock, favored by Hedge Funds. Analyst Shweta Khajuria remains bullish, predicting a 20% upside potential despite lowering the target price to $33. BMO Capital’s Brian Pitz also maintains an outperform rating, with a $35.00 price target, citing a healthy balance sheet and strategic acquisitions.

The analyst foresees a continued rally in Internet stocks due to macroeconomic growth, AI developments, and increased product spending. Pinterest Inc. (NYSE:PINS) allows users to share ideas on various topics globally and engage with advertisers, a significant revenue source. Pitz highlights the company’s acquisition of tvScientific for targeted advertising on connected TV inventory.

While Pinterest Inc. (NYSE:PINS) shows promise as an investment, some AI stocks may offer greater upside potential with less downside risk. For those interested in undervalued AI stocks with potential benefits from current economic trends, there are recommendations in a free report.

Read more at Yahoo Finance: Here is Why Pinterest Inc. (PINS) is Favored by Hedge Funds