Macquarie has raised its price target on Trade Desk to $130 from $115 while maintaining an Outperform rating, reflecting confidence in the company’s growth potential and market position.
In a recent update, Macquarie noted that the advertising market remains solid, with ad agency organic growth averaging 3% in Q3, which bodes well for media companies like Trade Desk.
The analyst anticipates that Trade Desk will report strong Q3 results, benefiting from the positive trends in the advertising sector and modest improvements in linear TV ad revenues.
Despite weak linear TV ad revenues overall, excluding the Olympics, Macquarie’s outlook suggests optimism for Trade Desk's performance amid a recovering advertising landscape.
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