Toast price target lowered to $38 from $43 at JPMorgan

JPMorgan lowered the firm’s price target on Toast (TOST) to $38 from $43 and keeps an Overweight rating on the shares. The firm sees “no major flaws to pick at” in the company’s Q4 report. However, it acknowledges that “bears might feed on” Toast’s recurring gross profit and EBITDA beats against the high end of guidance coming in at the lowest level in two years. The stock has been caught up in the AI selloff, but Toast’s “growth and moat” are attractive, the analyst tells investors in a research note.