Trade Desk price target lowered to $75 from $99 at HSBC

HSBC analyst Mohammed Khallouf lowered the firm’s price target on Trade Desk (TTD) to $75 from $99 and keeps a Buy rating on the shares. In light of current macro headwinds, the firm revisited social media and AdTech names under its coverage and lowered revenue growth forecasts by 300-500 basis points for FY25 and by 200-300 points for FY26 to better reflect the more-sluggish near-to-medium-term global ad demand outlook.