Truist lowered the firm’s price target on Toast (TOST) to $30 from $36 and keeps a Buy rating on the shares. The firm has refreshed its model on the company after its Q1 results, with recurring gross profit estimates declining slightly in the coming quarters as it takes a slightly more conservative approach to modeling net location additions, the analyst tells investors in a research note.
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- Toast downgraded to Neutral from Buy at Rothschild & Co Redburn
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