DA Davidson raised the firm’s price target on Trade Desk (TTD) to $134 from $108 and keeps a Buy rating on the shares. The company’s Q3 results were ahead of expectations, with revenue and EBITDA beats driven by continued strength in CTV spend, momentum from the Kokai roll-out, Retail Media, and another quarter of International growth outpacing the domestic business, the analyst tells investors in a research note. In the near term, the firm sees core CTV budget migration, Retail Media, and International to be key drivers of results, DA Davidson adds.
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