RBC Capital raised the firm’s price target on Trade Desk to $120 from $110 and keeps an Outperform rating on the shares. The company delivered a strong quarter in what has been a mixed macro, delivering upside to revenue and strong profitability, the analyst tells investors in a research note. Trade Desk’s raised Q3 guidance also stands out from peers as the company continues to benefit from a number cyclical and secular drivers, including market share gains from walled gardens but most notably within CTV, the firm added.
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