Bernstein Upgrades Toyota to Outperform, Citing 20% ROE Target

TM
October 08, 2025

Bernstein upgraded Toyota Motor Corporation to Outperform from Market-Perform on August 18, 2025. The upgrade was accompanied by a raised price target to 3,500 Japanese yen from 2,550 yen.

The analyst firm cited Toyota's stated journey to achieve a 20% Return on Equity (ROE) as a key factor for the upgrade. This ambitious financial target signals a strong commitment to improving profitability and shareholder value.

This upgrade reflects growing confidence in Toyota's strategic direction and its ability to execute on its financial goals. The focus on enhancing ROE is seen as a positive catalyst for the company's long-term valuation and market performance.

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