Toyota Motor "outperform," target price raised

07.11.06 - Credit Suisse

LONDON, November 7 (newratings.com) - Analyst K Endo of Credit Suisse maintains his "outperform" rating on Toyota Motor Corp (TOM). The target price has been raised from ¥7,000 to ¥8,500.

In a research note published yesterday, the analyst mentions that the company is expected to significantly raise its F3Q07 guidance. The analyst believes that Toyota Motor would retire half of its treasury shareholdings or more than 5% of its outstanding shares. The company continues to generate outstanding US sales, with sales growth of 13.6% during October, Credit Suisse says.