Piper Sandler analyst Matt Farrell keeps an Overweight rating on Trade Desk with a $110 price target after Lowpass reported the company is planning to launch an operating system for the smart TV market. The firm says the article took it by surprise, as this was not an area Piper expected Trade Desk to potentially participate in. However, Trade Desk has a history of improving the advertising supply chain, giving inventory partners the tools to make the process as easy as possible, the analyst tells investors in a research note. The firm says the smart TV operating system market is “quite competitive, with major players already having significant scale.”
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