Analyst Kentaro Hosoda from Bank of America Securities maintained a Buy rating on Toyota Motor (TYT – Research Report) and keeping the price target at Yen3,300.00.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Kentaro Hosoda has given his Buy rating due to a combination of factors influencing Toyota Motor’s outlook. The company’s recent third-quarter results showed a positive market reaction, particularly due to the guidance hike, which caught attention. Despite a shortfall in operating profits, mainly because of foreign exchange impacts and expenses tied to Hino Motors, the underlying earnings were aligned with expectations.
Additionally, Toyota has increased its operating profit guidance for the fiscal year, driven by favorable forex effects, enhanced marketing strategies, and material cost adjustments. This improved outlook, coupled with ongoing investments in personnel and growth, supports the Buy rating. The discussions at the briefing, although limited in new catalysts, further reinforced the positive sentiment towards Toyota’s strategic initiatives and partnerships.
In another report released today, DBS also maintained a Buy rating on the stock with a Yen3,500.00 price target.