Goldman Sachs downgraded Toast (TOST) to Neutral from Buy with a price target of $45, up from $34. The firm says that with the stock up 135% year-to-date, much of its positive outlook is reflected. It sees the risk/reward now as more balanced. Given the recent run in the stock, coupled with Goldman’s view that near-term fundamentals are likely to be somewhat stable, the firm is moving to the sidelines, the analyst tells investors in a research note.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TOST:
- Baird ‘a bit surprised’ at Toast explosive move, keeps Neutral rating
- Baird ‘a bit surprise’ at Toast explosive move, keeps Neutral rating
- Toast director Chapman-Hughes sells 15,285 class A shares
- Target downgraded, Chewy upgraded: Wall Street’s top analyst calls
- Compass Point starts ‘growth stock with secular tailwinds’ Toast with a Buy