Toast price target raised to $46 from $45 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Toast (TOST) to $46 from $45 and keeps an Overweight rating on the shares. Toast’s addressable market is “larger than the market thinks and it is expanding” as Toast enters and penetrates new markets, the analyst tells investors. Toast can more than double its location count over the next five years and the firm sees a path to greater than 300,000 locations in 2031, the analyst added.