Exane upgrades Toast, says now is time to turn bullish

Exane BNP Paribas upgraded Toast to Outperform from Neutral with a price target of $30, up from $21. The analyst sees “little reason to not like Toast.” With a clear path to GAAP profitability, upside risk to fiscal 2024 guidance, an “unmatched” competitive position and fast international market share gains, now is the time to turn more bullish on the stock, the analyst tells investors in a research note.