Toast price target raised to $35 from $32 at DA Davidson

DA Davidson analyst Peter Heckmann raised the firm’s price target on Toast (TOST) to $35 from $32 and keeps a Buy rating on the shares ahead of its Q3 results next week. The company should meet or modestly exceed forecasts, and the management will likely affirm its FY24 guidance ranges, the analyst tells investors in a research note. The firm is adjusting its price target with a roll of valuation framework to 2026 forecasts, DA Davidson added.