Redburn-Atlantic Upgrades Toast Inc. (TOST) to Buy, 'Has Pricing Power'

Redburn-Atlantic analyst Dominic Ball upgraded Toast Inc. (NYSE: TOST) from Neutral to Buy with a price target of $28.00.

The analyst comments "We upgrade Toast to Buy based on its underappreciated pricing power, enhanced operating leverage and ability to sustain elevated revenue growth. Toast’s ability to maintain a stable gross payment take rate while onboarding larger merchants is clear evidence of pricing power on SMB merchants. We envisage software price hikes next with further earnings upgrades likely as Toast’s extensive product suite matures. A rerating is deserved as Toast proves its pricing power and resilient restaurant spending shifts the debate towards the duration of its revenue growth, which is the best in the industry."

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 $18.41 yesterday.

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