Trade Desk price target lowered to $70 from $75 at Guggenheim

Guggenheim analyst Michael Morris lowered the firm’s price target on Trade Desk to $70 from $75 and keeps a Buy rating on the shares after updating the firm’s model to better reflect its view of 2023 core trends and the company’s incremental 2023 costs. The firm’s recent advertising industry discussions suggest overall advertising demand stability relative to Q4 trends, with "modest differences" between platforms and verticals, the analyst tells investors.