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1 day agoTrade Desk Just Got Hit Again: HSBC Downgrades to Reduce With $20 Price Target
HSBC downgraded Trade Desk to Reduce with a $20 price target amid structural concerns about ad spending shifting to walled gardens.
As expected, Wall Street was quick to react to the price correction, with multiple firms revising their outlooks on The Trade Desk. For example, Oppenheimer removed its $35 TTD price target and dropped the rating on the shares from 'Outperform' to 'Perform,' arguing that growth won't exceed single-digit figures this quarter.