Trade Desk price target lowered to $24 from $25 at Wells Fargo

Wells Fargo lowered the firm’s price target on Trade Desk (TTD) to $24 from $25 and keeps an Equal Weight rating on the shares. The firm expects an in-line Q1, but is reducing Q2-Q4 estimates on mixed checks. Wells sees fee issue impacting Publicis spend, as other agencies still review/audit. On Iran, checks suggest budget reductions in March but limited to categories with direct supply chain exposure, the firm adds.