As previously reported, Wedbush upgraded Trade Desk (TTD) to Neutral from Underperform with a $23 price target The firm thinks the heightened competitive landscape and narrative pressure should be largely offset by spending tailwinds around the World Cup this summer and likely upside on political spending in the back-half. The March Publicis audit failure and subsequent removal from the holding company’s recommended partner list may have slightly impacted late-Q1 and Q2 revenue, but Wedbush has not seen a mass exodus of advertisers. Instead, it seems to reflect a broader market demand for simpler economics and greater transparency.
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