Toast price target lowered to $22 from $24 at UBS

UBS lowered the firm’s price target on Toast to $22 from $24 and keeps a Buy rating on the shares post the Q3 results. The company’s revenue was in line, with little change to the fiscal 2023 guide due to macro conditions, the analyst tells investors in a research note. The firm says the shares appear attractively valued assuming moderate levels of success in Toast’s international segment and path toward market leadership with U.S. restaurants.