Toyota Motor Corp. - ADR (TM) - Bull of the Day
May 30 2012 - 8:00PM
Zacks
Toyota Motor Corp. (TM) continues to play a pivotal role in
the global market for fuel-efficient and environment-friendly
vehicles. It also expects to benefit from its cost reduction
measures and continued focus on the emerging markets.
However, the company reported a 30.5% drop in profits to Y283.56
billion ($3.7 billion) or Y90.20 ($1.17) per share, and a 2% dip in
revenues to ?18.58 trillion ($241.59 billion) in fiscal 2012. For
fiscal 2013, it expects higher consolidated revenues of Y22.00
trillion, operating income of ?1.00 trillion yen and profits of
Y760.0 billion, compared with fiscal 2012.
Therefore, we have upgraded our recommendation on shares of the
company to Outperform from Neutral and set a target price of
$93.00. This amounts to 14.4X our 2013 EPS estimate, and reflects
our upgraded recommendation.
TOYOTA MOTOR CP (TM): Free Stock Analysis Report
TOYOTA MOTOR CP (TM): Free Stock Analysis Report
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