Truist analyst Matthew Coad initiated coverage of Toast (TOST) with a Buy rating and $48 price target The analyst is a “long-term believer” as the firm expects Toast’s best-in-class product offering and differentiated distribution strategy to result in Toast becoming “the category killer within the restaurant POS software industry,” the analyst tells investors. However, the firm understands why some investors may be cautious in the short-term given Toast’s SMB and discretionary spend exposure, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TOST:
- Toast price target raised to $45 from $44 at BMO Capital
- Toast Inc. Poised for Strong Growth: Analyst Recommends ‘Buy’ Amid Robust Performance and Expansion Plans
- Mixed Signals Lead to Hold Rating for Toast Inc: Strong Q1 Performance and Future Challenges
- Toast, Inc. Earnings Call Highlights Strong Growth and Positive Outlook
- Toast price target raised to $37 from $35 at Piper Sandler