Trade Desk price target raised to $58 from $50 at Morgan Stanley

Morgan Stanley analyst Matthew Cost raised the firm’s price target on Trade Desk to $58 from $50 and keeps an Equal Weight rating on the shares following what it calls "another solid quarter." While acknowledging that Trade Desk continues to outpace peers and the broader ad market, driven by benefits from the shift to CTV, the frim remains focused on the company’s ability to further scale CTV and ramp shopper marketing initiatives.