Trade Desk initiated with an Outperform at Baird

Baird analyst Vikram Kesavabhotla initiated coverage of Trade Desk with an Outperform rating and $88 price target. The analyst expects the company to benefit from the recent innovation around Kokai and ongoing progress with OpenPath. In addition, Trade Desk is making progress on expanding into international regions, which represent a much higher portion of industry spend, the analyst tells investors in a research note. Baird says the business is well aligned with ongoing trends in the advertising industry.