Truist analyst Youssef Squali lowered the firm’s price target on Trade Desk (TTD) to $85 from $100 but keeps a Buy rating on the shares. The company’s better Q3 results and higher Q4 guidance show incremental improvement in broader ad demand across key verticals and strong execution against tough Y/Y comps, while its fundamentals remain intact with Kokai’s growing adoption driving better outcomes for advertisers, the analyst tells investors in a research note. Truist adds that competitive fears and slowing growth concerns for Trade Desk are overblown.
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