Trade Desk price target lowered to $42 from $47 at Wells Fargo

Wells Fargo lowered the firm’s price target on Trade Desk (TTD) to $42 from $47 and keeps an Equal Weight rating on the shares. The firm is anticipating in-line EPS. Its survey data plus qualitative checks suggest brand spend modestly outperformed advertiser expects in Q4. Wells further anticipates Q1 guide about in-line with consensus, but the acceleration implied in Q2 – Q4 looks tough, even accounting for political.