Truist raised the firm’s price target on Trade Desk to $120 from $108 and keeps a Buy rating on the shares. The company’s expected “solid” Q3 results should show its “sustained momentum” across connected-TV, Retail Media, and International business, with advertisers aggressively turning to data-driven, non-walled garden inventory consumption where Trade Desk offerings “shine”, the analyst tells investors in a research note. Trade Desk Q4 guide should also come in line or slightly above consensus as the company sees the added benefit from political ad spending, the firm added.
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