Trade Desk falls after Wells Fargo downgrades on increasing Amazon competition
Shares of ad-tech firm Trade Desk TTD.O shares down 3% to $67.73 premarket after Wells Fargo downgrades to 'equal weight' from 'overweight', saying competitive impact from Amazon.com AMZN.O increasingly likely in 2026
Brokerage reduces TTD PT by $6 to $68 vs Wall Street median of $84
TTD checks have begun to indicate a greater willingness to test Amazon DSP on non-Amazon owned-and-operated connected TV inventory, subsequent to DSP / Roku & Disney+ partnership announcements, Wells Fargo says in note
Even before the Roku & Disney integrations, Wells says its survey data shows Amazon was starting to take wallet share
Now, 28 of 41 brokerages covering TTD rate stock "strong buy" or "buy", 11 have "hold" and 2 recommend "sell" - LSEG data
Through Weds close, TTD shares have lost 40% YTD
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