Toyota Motor "overweight," target price raised

16.02.06 - Morgan Stanley

LONDON, February 16 (newratings.com) - Analysts at Morgan Stanley maintain their "overweight" rating on Toyota Motor (TM). The target price has been raised from ¥6,200 to ¥7,150.

In a research note published this morning, the analysts mention that the company has reported robust results for F3Q05, broadly in-line with the estimates. The analysts expect Toyota Motors to generate revenue growth in FY06, with the pending launch of the strategic global models, new Camry and Corolla. The operating profit estimates for FY05 and FY06 have been raised from ¥1.7148 trillion to ¥1.8524 trillion and from ¥1.8487 trillion to ¥2.1042 trillion, respectively.