Toyota Motor (TM) Shares Sink as Credit Suisse Downgrades to Neutral

Shares of Toyota Motor (NYSE: TM) dipped sharply Friday morning following an intraday downgrade from Credit Suisse. The firm now rates the stock a Neutral, down from Outperform previously.

The lowered investment rating comes just minutes after Toyota announced a jaw-dropping 87.3 percent surge in US auto sales during May. The massive jump was attributed to a ramp in production following slowdowns over the last year following the earthquake and ensuing tsunami in Japan.

For an analyst ratings summary and ratings history on Toyota Motor click here. For more ratings news on Toyota Motor click here.

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