Exane upgrades Toast to Outperform, sees ‘unmatched competitive position’

As previously reported, Exane BNP Paribas upgraded Toast to Outperform from Neutral with a price target of $30, up from $21. The firm sees a “clear path to GAAP profitability” and upside risk to FY24 guidance, says the analyst, who contends that Toast has “an unmatched competitive position” as well as fast international market share gains.