Toast price target raised to $33 from $30 at Morgan Stanley

Morgan Stanley analyst Josh Baer raised the firm’s price target on Toast (TOST) to $33 from $30 and keeps an Overweight rating on the shares. While uncertainty around elections, geopolitical tension, and an active Federal Reserve has driven un uneven consumer spending backdrop, initial indications of a more constructive macro environment in 2025 appear to be translating in consumer data, says the analyst, who views Toast as “best positioned” in the Vertical Software group with the “strongest potential for meaningful positive estimate revisions.”