Trade Desk price target raised to $110 from $98 at BTIG

BTIG analyst Clark Lampen raised the firm’s price target on Trade Desk to $110 from $98 and keeps a Buy rating on the shares ahead of its earnings. The firm’s Q2 checks were constructive, with feedback continuing to suggest digital trends will improve over the balance of the year as political and Olympics spend support mid-to-high single digit underlying growth ex-inflation, the analyst tells investors in a research note. Despite that, a comparison of feedback from the latest checks vs. prior commentary from the same experts suggests that Q2 performance did slightly lag early quarter expectations, making BTIG slightly cautious on the setup into earnings given the healthy investor sentiment, the firm added.