Trade Desk price target lowered to $40 from $49 at BofA

BofA lowered the firm’s price target on Trade Desk (TTD) to $40 from $49 and keeps an Underperform rating on the shares. The firm forecasts that Trade Desk’s Q4 results will be at least in line with guidance on revenue and adjusted EBITDA, but topline deceleration in 2025 coupled with management changes have amplified competitive concerns, says the analyst, who believes the stock has become a “show me” story. The firm would need to see a revenue growth acceleration through 2026 to get more constructive, the analyst added.