Trade Desk climbs after Oppenheimer hikes PT to Street high
** Shares of Trade Desk TTD.O up 2.6% at $102.11 on Mon after Oppenheimer raised PT on ad-tech firm
** Brokerage hiked by $15 to Street-high $120, per LSEG, implying ~21% upside to stock's last close
** Oppenheimer said TTD remains one of the cleanest internet/media secular growth stories, as consumers shift to connected TV/e-commerce, aided by scaling of retail media (targeted e-comm ads) and improving addressability/measurement
** Leading agencies continue to increase FY24 ad spending estimates, suggesting rev upside for TTD, Oppenheimer said
** Oppenheimer, which rates TTD "outperform", said co will represent 11.7% of spend in 2026 vs 7.8% in 2023
** 26 of 33 brokerages rate TTD "strong buy" or "buy", 5 have "hold", and 2 rate "sell" with $107.25 median PT - LSEG
** With move on the session, shares up ~42% YTD vs Nasdaq's .IXIC ~24% rise
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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