Bank of America Securities analyst Jessica Reif Ehrlich reiterated a Buy rating on Trade Desk (TTD – Research Report) today and set a price target of $130.00.
Jessica Reif Ehrlich’s rating is based on several strategic initiatives and market trends that position The Trade Desk for future growth. The transition to the Kokai platform is a central focus, as it is expected to enhance supply chain efficiencies and improve data-driven insights, which could lead to increased market share through better outcomes for advertisers. This transition is anticipated to unlock greater adoption of OpenPath, further strengthening The Trade Desk’s competitive edge.
Moreover, Connected TV (CTV) remains a significant growth driver for The Trade Desk, supported by the ongoing shift from linear to digital advertising and the expansion of advertising-based video on demand platforms. The partnership with Walmart and the potential growth in retail media and audio advertising also contribute to a positive outlook. Despite competitive pressures from companies like Amazon, The Trade Desk’s positioning in high-growth areas of digital advertising, along with favorable secular trends, supports the Buy rating and a price objective of $130.
Reif Ehrlich covers the Communication Services sector, focusing on stocks such as Warner Bros, Comcast, and Sirius XM Holdings. According to TipRanks, Reif Ehrlich has an average return of 7.6% and a 52.07% success rate on recommended stocks.
In another report released on February 28, Citi also maintained a Buy rating on the stock with a $108.00 price target.