12:20 AM EDT, 06/05/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We trim our 12-month target price to USD210 from USD260, reflecting a FY 25 (Mar.) P/E of 10.2x on a lower FY 25 earnings per ADS estimate (EPS) of JPY200 from JPY203. Toyota Motor Corporation ( TM ) posted FY 24 EPS of JPY229, vs. an EPS of JPY112 in FY 23. Revenue improved 21% to JPY45 trillion, while operating profit expanded to JPY5.3 trillion from JPY2.7 trillion. We project a 3% average annual revenue expansion for FY 25-FY 26 on better pricing of its vehicles, supported by a diversified model line-up, but offset by the sluggish industry demand. The profitability outlook remains positive given falling incentive trends in its core market in North America, consistent cost-reduction efforts, and rising revenue share from SUV models. Given its production halt due to safety concerns, we revise our opinion to Hold as we see delivery being affected in 2024. We maintain our FY 26 EPS forecast of JPY213.