Nomura Securities Maintains a 'Buy' on Toyota Motor (TM); Superior Hybrids; Steady Cost Restructuring
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Price: $225.36 -3.23%
Rating Summary:
6 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
6 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Nomura Securities maintains a 'Buy' on Toyota Motor (NYSE: TM), PT Yen 3,900.
Analsyt Masataka Kunugimoto, said, "We commend Toyota’s superiority in hybrid vehicles and its steady behind-the-scenes cost restructuring. The stock is trading at 8x our EPS forecast for 14/3, by which time the impact of eco-car subsidies is likely to have disappeared, and this represents a heavy discount to the 11x average for the NOMURA 400 (ex financials). Over the medium term, we expect the full-fledged uptake of hybrid vehicles to play to Toyota’s technological superiority, and we also commend its cost restructuring moves based on a shift to local production, including for engines and transmissions. We obtain our target price of ¥3,900 by applying a target P/E of 11x to our 14/3 EPS forecast."
For an analyst ratings summary and ratings history on Toyota Motor click here. For more ratings news on Toyota Motor click here.
Shares of Toyota Motor closed at $79.61 yesterday.
Analsyt Masataka Kunugimoto, said, "We commend Toyota’s superiority in hybrid vehicles and its steady behind-the-scenes cost restructuring. The stock is trading at 8x our EPS forecast for 14/3, by which time the impact of eco-car subsidies is likely to have disappeared, and this represents a heavy discount to the 11x average for the NOMURA 400 (ex financials). Over the medium term, we expect the full-fledged uptake of hybrid vehicles to play to Toyota’s technological superiority, and we also commend its cost restructuring moves based on a shift to local production, including for engines and transmissions. We obtain our target price of ¥3,900 by applying a target P/E of 11x to our 14/3 EPS forecast."
For an analyst ratings summary and ratings history on Toyota Motor click here. For more ratings news on Toyota Motor click here.
Shares of Toyota Motor closed at $79.61 yesterday.
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