The Trade Desk Inc Class A

TTD: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$38.00	Rcprg	Mknddfmp

Launching Coverage of The Trade Desk With No-Moat, Stable Trend Ratings and $43 Fair Value Estimate

Ali Mogharabi

Dec 13, 2022

We are initiating coverage of The Trade Desk with no-moat and stable moat trend ratings and a $43 fair value estimate. We recommend waiting for a margin of safety before investing, as the shares, to which we assign a Very High Morningstar Uncertainty Rating, are trading in 3-star territory.

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