Amazon ad launch a buying opportunity for Trade Desk, says Morgan Stanley

Morgan Stanley analyst Matthew Cost notes that Amazon’s (AMZN) launch later this month of Prime Video ads could drive near-term volatility for Trade Desk (TTD) shares, but recommend being a buyers of any related weakness. The firm expects the “vast majority” of Amazon’s new ad dollars to come from non-Trade Desk sources, including linear TV, and ultimately sees this “strengthening the CTV ecosystem,” notes the analyst, who keeps an Overweight rating and $70 price target on Trade Desk shares.