Toast price target raised to $27 from $23 at RBC Capital

RBC Capital raised the firm’s price target on Toast to $27 from $23 and keeps a Sector Perform rating on the shares. The company delivered a strong quarter with revenue and adjusted EBITDA outperformance, displaying execution in its cost optimization plan, the analyst tells investors in a research note. Toast management also sounded increasingly confident about its path towards achieving GAAP EBIT profitability, RBC added.