In a report released today, Josh Baer from Morgan Stanley maintained a Buy rating on Toast Inc (TOST – Research Report), with a price target of $50.00.
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Josh Baer has given his Buy rating due to a combination of factors that highlight Toast Inc.’s strong financial performance and strategic positioning. The company has consistently exceeded its financial guidance, demonstrating robust profitability and growth at scale. Following a noteworthy fourth-quarter performance and an optimistic initial guidance for 2025, Baer has observed an increase in EBITDA projections, which boosts confidence in future positive estimate revisions.
Additionally, Toast’s ability to replicate its success in the core U.S. market across new growth markets solidifies its long-term growth potential. The company’s guidance for 2025 indicates significant revenue and margin expansion, surpassing investor expectations. With ongoing momentum in multiple growth vectors and a well-positioned market strategy, Baer has elevated Toast to a top pick, supporting an increased price target of $50.
In another report released today, Needham also reiterated a Buy rating on the stock with a $50.00 price target.