Trade Desk price target lowered to $85 from $100 at RBC Capital

RBC Capital lowered the firm’s price target on Trade Desk (TTD) to $85 from $100 and keeps an Outperform rating on the shares ahead of its Q1 results next week. The firm expects a solid start to the year as its checks suggest that demand environment was stable in the first quarter but has seen some pockets of weakness emerge in Q2, the analyst tells investors in a research note. RBC adds however that the outlook is likely to be prudently conservative, with investors trying to balance the macro with thematic company-specific concerns.