Toast stock rallies after Mizuho says buy, citing
Shares of Toast Inc.
rose 1.2% in premarket trading Monday, after the provider of consumer payment systems for restaurants was upgraded at Mizuho, with analyst Dan Dolev saying a restaurant survey showed a “delicious path to profitability.” Dolev raised his rating to buy from neutral and lifted his stock price target to $24 from $22, implying 43% upside from Friday’s closing price of $16.82.
rose 1.2% in premarket trading Monday, after the provider of consumer payment systems for restaurants was upgraded at Mizuho, with analyst Dan Dolev saying a restaurant survey showed a “delicious path to profitability.” Dolev raised his rating to buy from neutral and lifted his stock price target to $24 from $22, implying 43% upside from Friday’s closing price of $16.82.
restaurants uncovers the positive impact on sales and profits from cross-selling payroll and adjacent SaaS products,” Dolev wrote in a note to clients. The stock has tumbled 51.4% year to date through Friday, while the S&P 500 SPX has shed 23.6%.
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