Toast price target raised to $43 from $28 at Canaccord

Canaccord analyst David Hynes raised the firm’s price target on Toast (TOST) to $43 from $28 and keeps a Buy rating on the shares. The firm said they posted an excellent quarter and guidance for Q4 was set well ahead of previous estimates for recurring gross profit growth and EBITDA, which suggests that we shouldn’t see much deterioration from Q3 levels.