Toast price target raised to $60 from $50 at Needham

Needham raised the firm’s price target on Toast (TOST) to $60 from $50 and keeps a Buy rating on the shares. The company delivered strong Q2 results, coming in ahead of expectations, as it continues to gain share within its core U.S. restaurant market, adding a record number of locations, the analyst tells investors in a research note. Toast is also gaining momentum in emerging verticals/international markets, noting it took its first restaurant live in Australia, the firm added.