BMO Capital analyst Brian Pitz lowered the firm’s price target on Trade Desk (TTD) to $115 from $160 after its Q4 results and below consensus Q1 guide but keeps an Outperform rating on the shares. The company’s larger-than-typical December reorganizaion, a deliberately slower rollout of the core Kokai platform, and several execution missteps are contributing to a softer quarter/outlook, but the firm expects Trade Desk execution to improve and long-term Connected TV tailwinds to drive the story, the analyst tells investors in a research note.
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