Trade Desk price target raised to $75 from $60 at Oppenheimer

Oppenheimer analyst Jason Helfstein raised the firm’s price target on Trade Desk to $75 from $60 and keeps an Outperform rating on the shares after its Q4 earnings beat and above-consensus guidance that showed "continued outperformance". The company is expecting CTV to accelerate share gains from linear budgets in 2023 while also benefiting from U.S.-heavy geographic mix given the International macro weakness, the analyst tells investors in a research note. Trade Desk represents an attractive vehicle for investors looking to increase exposure to the SaaS structural theme, the digital advertising growth wave, and for our convergence theme in customer engagement, the firm adds.