BUZZ-Toast rises after BMO initiates coverage with 'outperform' rating

Reuters01-07
BUZZ-Toast rises after BMO initiates coverage with 'outperform' rating

** Restaurant software provider Toast's TOST.N shares rise ~2.6% to $38.58

** BMO initiates coverage of TOST with "outperform" rating

** Brokerage says TOST will be a long-term winner in the U.S. restaurant technology and payment market

** Adds TOST has strong market product offering with a large addressable market and will continue to gain meaningful market share

** BMO sets PT at $45, a ~20% upside on stock's last close

** 13 of 29 brokerages rate the stock "buy" or higher, 15 "hold" and 1 "sell"; their median PT is $40 — LSEG

** TOST stock soared ~109.1% in 2024

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))

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