Trade Desk price target lowered to $101 from $142 at Wells Fargo

Wells Fargo lowered the firm’s price target on Trade Desk (TTD) to $101 from $142 and keeps an Overweight rating on the shares. The firm says Trade Desk printed significantly worse than expected Q4 results and Q1 guidance. A miss supports Amazon (AMZN) DSP competition bear case, but Wells believes challenges are more related to execution missteps and can be rectified in the near-term.