Toast price target raised to $54 from $50 at Jefferies

Jefferies raised the firm’s price target on Toast (TOST) to $54 from $50 and keeps a Buy rating on the shares. The firm believes Toast is well positioned to deliver another beat, as consumer spending trends have been durable and the company continues to execute well on its growth initiatives. Jefferies added that it expects management to flow through at least some of the beats and walk FY25 guidance higher.