Trade Desk price target raised to $105 from $90 at RBC Capital

RBC Capital raised the firm’s price target on Trade Desk to $105 from $90 and keeps an Outperform rating on the shares. The company delivered strong outperformance in Q4 as well as a larger-than-expected Q1 raise, while the management focused on the opportunities in retail media, identity and Connected TV while minimizing the risk presented by Amazon AVOD inventory and Google cookie deprecation, the analyst tells investors in a research note.