Trade Desk price target raised to $112 from $110 at Citi

Citi raised the firm’s price target on Trade Desk to $112 from $110 and keeps a Buy rating on the shares. The company reported better than expected Q1 results and Q2 guidance as an improving advertising macro, continued connected TV tailwinds, UID2/1P data, and Kokai are supporting mid-to-high 20% revenue growth, the analyst tells investors in a research note. When looking to normal seasonality during political years plus the benefit of the Summer Olympics, Citi sees upside to estimates.