Toyota Motor initiated with "buy"

31.01.08 - Deutsche Securities

LONDON, January 31 (newratings.com) - Analysts at Deutsche Bank Securities initiate coverage of Toyota Motor Corp (TOM) with a "buy" rating. The target price is set to ¥7,000.

In a research note published yesterday, the analysts mention that the company?s earnings growth is expected to be under pressure in the near term on account of a challenging US market environment and forex comparables. The current valuation of Toyota Motor?s stock, however, does not accurately reflect the value of the company?s financial assets and initiatives to diversify its business and expand earnings, the analysts add.