Loop Capital keeps a Buy rating and $92 price target on Trade Desk while naming the stock the firm’s 2024 Top Pick in the Internet advertising / SaaS space. The company offers very strong fundamentals, durable network effects and a widening competitive moat, the analyst tells investors in a research note. In addition to strong secular drivers around CTV, retail media, identity, and international expansion, the set-up into 2024 is particularly attractive with a strong product driver – Kokai – and strong cyclical drivers, including U.S. elections, rebound in autos, and media post-labor issues, Loop Capital added.
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