Trade Desk price target lowered to $122 from $144 at Stifel

Stifel lowered the firm’s price target on Trade Desk (TTD) to $122 from $144 and keeps a Buy rating on the shares. In Q4, Trade Desk “missed for the first time as a public company (excluding 1Q20),” and guided below the Street for Q1, the analyst tells investors. A miss at “some point was inevitable,” contends the firm, which adds that the “hiccup” does not change its thesis that Trade Desk is “best positioned in CTV.”