Why The Trade Desk Stock Soared This Week
Shares of The Trade Desk (NASDAQ: TTD) charged sharply higher this week, surging as much as 15.9%, according to data provided by S&P Global Market Intelligence. As of 1:48 p.m. ET Thursday, the stock was up 11.5%.
While it was no doubt buoyed by the general market updraft and overall positive sentiment that prevailed this week, the digital advertising specialist also got a boost, courtesy of bullish comments made by a Wall Street analyst.
Morgan Stanley analyst Matthew Cost initiated coverage of The Trade Desk with an equal weight (hold) rating. He also issued a $60 price target, which represents gains for investors of roughly 19% compared to last Friday's closing price. While that's not usually the stuff of big price spikes, it was what the analyst had to say about the company that buoyed investor sentiment.
Source Fool.com
