Trade Desk price target lowered to $50 from $65 at Citi

Citi lowered the firm’s price target on Trade Desk (TTD) to $50 from $65 and keeps a Neutral rating on the shares. The firm believes the challenging macro environment coupled with slowing connected TV growth and more intense competition are driving a slowdown in Trade Desk’s revenue growth. Citi also sees decelerating advertising growth at Trade Desk’s key partners.