TOST - Goldman says a payment stocks sector reshuffle will 'redefine' Financials: At the Open

December, 06 2021 09:05 AM Toast Inc. Class A

Goldman Sachs identifies the payment and financial transaction stocks that are likely to move in an index resuffle and the changes in the growth prospects. "Index providers S&P and MSCI propose in early 2022 to change industry classifications that will mainly affect the Technology and Financials sectors," equity strategist David Kostin writes. "One proposal involves the dissolution of the Data Processing & Outsourced Services sub-industry within Info Tech and re-assignment of the stocks to Financials (Transaction & Payment Processing Services) and Industrials." "S&P 500 (SP500) (NYSEARCA:SPY) Financials weighting will rise to 13% (from 11%) while the Tech weighting will fall to 26% (from 29%)." Goldman says Visa (NYSE:V), Mastercard (NYSE:MA), PayPal (NASDAQ:PYPL), Fiserv (NASDAQ:FISV), Global Payments (NYSE:GPN), Jack Henry (NASDAQ:JKHY) and Western Union (NYSE:WU) will go to Financials (NYSEARCA:XLF). Automatic Data Processing (NASDAQ:ADP), Paychex (NASDAQ:PAYX), Fleetcor (NYSE:FLT), Fidelity National (NYSE:FIS) and Broadridge Financials (NYSE:BR) are expecte to move to Industrials. Non-index

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Goldman says a payment stocks sector reshuffle will 'redefine' Financials: At the Open

Company Name:	Toast Inc. Class A
Stock Symbol:	TOST
Market:	NYSE
Website:	pos.toasttab.com

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