Lexus EV Expansion
The incoming CEO of Toyota Motor Corp, Koji Sato, announced that the company will ramp up its battery-electric offerings by focusing on its Lexus luxury brand. However, he emphasized that this does not mean a big change in the company’s strategy, as Toyota will still pursue a number of different technologies in its drive towards carbon-neutral vehicles. Sato acknowledged that Toyota has been criticized for being too slow to embrace battery-powered electric vehicles, but stated that around half of the problem was a “communication issue.” He also confirmed that the company is still committed to its previous goal of selling 3.5 million battery-electric vehicles by 2030. Sato started his career at Toyota in 1992 and has risen through the ranks to become chief engineer of Lexus International in 2016. While he oversaw the creation of Lexus’s first fully electric model, he has previously expressed the importance of keeping other options for powering vehicles open.
TM Stock Price Forecast & Analysis
Based on the latest stock forecasts from 3 analysts, the average target price for Toyota Motor Corporation ADR is USD 169.35 in the next 12 months. This means that the analysts do not expect significant changes in the stock price of Toyota in the near future. The average analyst rating for the company is “Hold,” which indicates that the analysts believe that the stock is not likely to experience significant growth or decline in the near future.
Stock Target Advisor has rated Toyota’s stock as “Neutral” based on a combination of 3 positive signals and 3 negative signals. Despite this, the last closing price of Toyota Motor Corporation ADR was USD 143.42. In recent weeks, the stock price has changed slightly by -0.89% over the past week, +0.74% over the past month, and -25.58% over the last year. This suggests that the company’s stock price has experienced some fluctuations, but has overall declined over the past year.