Toast initiated with an Outperform at BMO Capital

BMO Capital initiated coverage of Toast (TOST) with an Outperform rating and $35 price target Amid the recent market pullback, the focus is on category leaders with strong, durable moats that can withstand competition and AI disruption, and Toast stands out due to unique, still-emerging growth drivers that support its long-term potential, the analyst tells investors in a research note.