The bank upgraded shares of The Trade Desk to overweight from equal-weight Thursday and raised its price target to $90 per share from $60.
Morgan Stanley's forecast equates to nearly 23% upside from the stock's $73.26 close on Thursday. The stock has been on fire this year with a 63% gain. The company specializes in personalizing advertising for companies to appeal to their specific subset of customers. TTD YTD mountain Shares of The Trade Desk are up more than 63% from the start of 2023. Analyst Matthew Cost said the company is poised to benefit from growth in both ad-supported streaming as well as retail media.
"As the leading independent demand-side platform , TTD is well positioned to benefit from both trends, as advertisers 1) shift dollars from traditional linear TV to streaming, and 2) leverage retailers' customer data to run more effective/measurable ad campaigns," Cost said, calling the company a "best-in-class" name.
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