Toast price target raised to $27 from $25 at DA Davidson

DA Davidson analyst Peter Heckmann raised the firm’s price target on Toast to $27 from $25 and keeps a Buy rating on the shares. The company’s Q2 revenue growth was strong and the quarter was also the first for positive adjusted EBITDA and free cash flow, the analyst tells investors in a research note. The firm continues to believe that the management is making the right moves to allow Toast to become a long- term leader in the integrated software and payment solutions market for the restaurant industry.