Trade Desk price target raised to $105 from $100 at KeyBanc

KeyBanc analyst Justin Patterson raised the firm’s price target on Trade Desk to $105 from $100 and keeps an Overweight rating on the shares. Despite concerns on brand advertising in the wake of Alphabet’s (GOOGL) YouTube results, the firm believes Trade Desk (TTD) can still exceed expectations as Amazon (AMZN) does not appear to be weighing on is trends; the company is not lapping tough China comps; and as KeyBanc believes the Kokai product cycle and a soft upfront market should drive share gains. Taken together, the firm still views Trade Desk as a 20%-plus annual grower over the medium term.