Why Pinterest Stock Popped on Tuesday

For the second trading day in a row, the stock of Pinterest (NYSE: PINS) was given a raised price target from Wall Street. But unlike Friday's increase, today's boost is having a positive effect on the stock, which was up 4.8% in 1 p.m. EST trading.

Image source: Getty Images.

On Friday, the last trading day before the holiday break, Citigroup (NYSE: C) raised its price target on Pinterest, saying it was impressed with the company's fourth-quarter earnings results earlier in the month. But the price target Citi affixed to the stock, $85, was below the $87 Pinterest shares were trading for at the time, so investors took Citi's comments as a negative, and sold off the stock.

Source Fool.com