Trade Desk price target raised to $135 from $110 at Evercore ISI

Evercore ISI analyst Shweta Khajuria raised the firm’s price target on Trade Desk (TTD) to $135 from $110 and keeps an Outperform rating on the shares after the company announced the launch of Ventura, the company’s Streaming TV OS, with an aim toward solving some of the key issues in the existing CTV ecosystem. Ventura will have objectivity of not owning any streaming TV content and Trade Desk has no plans of entering the hardware business, while the company noted that Ventura is already generating widespread industry support from partners such as Disney (DIS), Tubi (FOXA), Paramount (PARA), and Sonos, the analyst said. The firm also notes that while Trade Desk has not announced any initial partners yet, it “hinted” that Ventura will be deployed by OEMs and other streaming TV aggregators as early as 2025.