Toyota Motor "outperform," target price raised

08.02.07 - Credit Suisse

LONDON, February 8 (newratings.com) - Analyst K Endo of Credit Suisse maintains his "outperform" rating on Toyota Motor Corporation (TOM). The target price has been raised from ¥8,500 to ¥10,000.

In a research note published yesterday, the analyst mentions that the company has reported its F3Q07 results, with robust EPS and higher-than-expected operating profits. The analyst adds, however, that Toyota Motor?s pretax profits declined 4% to ¥615.9 billion in the quarter. The company has reiterated its operating profit guidance for the full year at ¥2,200 billion. The operating profit estimate for 2007 has been raised to ¥2,320 billion.