BUZZ-Evercore ISI upgrades Toast rating to 'outperform'

Reuters01-20 21:25
BUZZ-<a href="https://laohu8.com/S/EVR">Evercore</a> ISI upgrades Toast rating to 'outperform'

** Evercore ISI upgrades stock rating on restaurant point-of-sale and management system Toast TOST.N to "outperform" from "in-line"

** Brokerage says co's recent price increases appear 'surgical' — significant enough to be meaningfully additive to revenue, yet not high enough to materially impact customer churn, and as a result, they are supportive of growth but not its primary driver

** Shares of co marginally down in premarket trading

** "We believe the majority of new growth vector adds will come from international, with enterprise and retail lagging, given longer sales cycles and product development requirements"- brokerage

** 28 analysts rate the stock "buy" on average; median PT is $45 - data compiled by LSEG

** As of last close, TOST down ~9% in the past 12 months

(Reporting by Akriti Shah in Bengaluru)

((akriti.shah@thomsonreuters.com))

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