Citi ups Trade Desk price target, adds ‘upside 90-day catalyst watch’

Citi analyst Ygal Arounian raised the firm’s price target on Trade Desk (TTD) to $90 from $82 and keeps a Buy rating on the shares following positive checks at Cannes and a media buyer survey that left the firm “incrementally positive” on Trade Desk’s leadership position. While noting that Amazon DSP (AMZN) “did show well” in the survey of 40 large media buyers regarding the DSP landscape, Trade Desk’s strength “stands out and there was solid support for Kokai,” says the analyst, who adds that the survey found Trade Desk to be “the clear market share leader” and best performing DSP across key qualities. The firm also opens a “positive 90-day positive catalyst watch” on Trade Desk shares into the company’s Q2 earnings report.