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Macquarie Upgrades Toyota Motor (7203:JP) (TM) to Outperform

February 4, 2025 8:10 AM EST

Macquarie analyst James Hong upgraded Toyota Motor (7203:JP) (NYSE: TM) from Outperform to Outperform with a price target of JPY3,500.00 (from JPY2,600.00).

The analyst comments "Less exciting earnings, but better quarters ahead. We expect Toyota to report soft earnings due to slower-than-expected volume recovery, despite Yen depreciation. We assume ¥1.3tn OP vs Visible... More