Toyota Motor Corporation (TM) is the leading automaker in the world in terms of sales and production. The automaker has long played a pivotal role in the global market for fuel-efficient and environment-friendly vehicles, influencing other automakers to foray into the same market promoted by the governments of many countries.
Good news is that the company expects its loss-making European operations to revert to profit at the operating level for full year 2011. Moreover, its continued focus on the emerging markets is expected to boost sales.
Therefore, we have upgraded the recommendation on the shares of the company from Neutral to Outperform with a target price of $90. Toyota shares carry a Zacks #1 Rank (Strong Buy).
TOYOTA MOTOR CP (TM): Free Stock Analysis Report
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