Trade Desk price target lowered to $40 from $49 at BofA

Core Viewpoint - BofA has lowered the price target for Trade Desk (TTD) to $40 from $49 and maintains an Underperform rating on the shares, citing concerns over revenue growth and management changes [1] Group 1: Price Target and Rating - BofA reduced the price target for Trade Desk to $40 from $49 [1] - The firm continues to hold an Underperform rating on Trade Desk shares [1] Group 2: Financial Forecast - BofA forecasts that Trade Desk's Q4 results will at least meet guidance on revenue and adjusted EBITDA [1] - There is an expectation of topline deceleration in 2025 [1] Group 3: Competitive Concerns - Management changes at Trade Desk have heightened competitive concerns [1] - The analyst describes the stock as a "show me" story, indicating a need for evidence of revenue growth acceleration through 2026 to become more positive on the stock [1]