BofA Securities Reiterates Neutral Rating on Toast Inc. (TOST)

BofA Securities analyst Jason Kupferberg reiterated a Neutral rating and $28.00 price target on Toast Inc. (NYSE: TOST)

The analyst comments "TOST updated its TAM to 1.4M locations, including 875k from US restaurants, 280k from UK/CAN/Ireland, and 220k from US F&B retail (new). TOST’s 112k live locations include 110k in the US (~13% of US restaurant TAM), ~2k in UK/CAN/Ireland, and ~1k in US F&B retail. The newly announced US F&B retail vertical has an estimated annual GMV of $660B and primarily includes SMB convenience stores, independent grocery, and bottle shops. Currently, 0.5% of US GDP (out of an estimated ~$1T in annual US restaurant sales or ~4% of US GDP) flows through TOST."

For an analyst ratings summary and ratings history on Toast Inc. click here. For more ratings news on Toast Inc. click here.

Shares of Toast Inc. closed at $23.63 yesterday.

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