Market Overview

UPDATE: Citigroup Upgrades Toyota Motor Corporation to Buy on Yen Weakness

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Citigroup upgraded Toyota Motor Corporation (NYSE: TM) from Neutral to Buy and raised its price target from $90.23 to $115.79.

Citigroup commented, "Toyota ADRs have risen as the yen has weakened. The ADR price rose above $89.41 at end-December for the first time since October 2010, hitting an intraday high of $96.68 on January 7, 2013. If the market focuses more on the likelihood of significant profit growth in FY3/14 due to yen weakness, the ADRs could get a further leg up. We therefore upgrade to Buy."

Toyota Motor Corporation closed at $96.80 on Monday.

Latest Ratings for TM

DateFirmActionFromTo
Jun 2014ISI GroupInitiates Coverage onStrong Buy
Apr 2014Mitsubishi UFJ Morgan StanleyDowngradesOutperformNeutral
Apr 2014Mizuho SecuritiesUpgradesNeutralBuy

View More Analyst Ratings for TM
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Upgrades Analyst Ratings

 

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