Trade Desk downgraded to Market Perform from Outperform at Citizens

Citizens downgraded Trade Desk (TTD) to Market Perform from Outperform without a price target The firm believes the company’s competitive intensity is increasing and its positive near-term catalysts are limited. Generative artificial intelligence is lowering switching costs across demand-side platforms by simplifying the programmatic buying user interface, which will further intensify competition within the landscape, the analyst tells investors in a research note. Citizens says this is occurring as Amazon (AMZN) “already represents a growing competitive threat” to Trade Desk. As such, the firm views Trade Desk’s risk/reward profile as balanced at current share levels.