Toast initiated with a Buy at Freedom Capital

Freedom Capital initiated coverage of Toast (TOST) with a Buy rating and $45 price target The company has made meaningful inroads penetrating the U.S. restaurant vertical with its purpose-built modern, cloud-based offering, and the firm sees multiple growth catalysts on the horizon, including incremental share gains remaining in core U.S. SMB, significant total addressable market expansion opportunity from newer business segments – enterprise, food and beverage retail – and international, which should drive sustained growth in key metrics, the analyst tells investors in a research note.