Wells Fargo analyst Andrew Bauch raised the firm’s price target on Toast (TOST) to $46 from $39 and keeps an Overweight rating on the shares. The firm says that “amid the chop,” Toast’s Q1 results were stellar, underscored by GP and adjusted EBITDA beats and an FY25 guide raise. With core momentum and new opportunity optimism, Wells thinks Toast will increasingly be perceived as a defensible play.
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