The Street is Bullish on Toyota Motor Corporation (TM), Here’s Why

​Toyota Motor Corporation (NYSE:TM) is one of the Best Low Cost Stocks to Buy According to Hedge Funds. The Street is bullish on Toyota Motor Corporation (NYSE:TM) as 79% of the 19 analysts covering the stock have a Buy rating on the stock. Moreover, the average 12-month price target on the stock suggests more than 31% upside from the current level.

Recently, on May 27, Bernstein analyst Masahiro Akita maintained a Buy rating on the stock with a price target of Yen4,200. Earlier on May 14, Freedom Broker upgraded Toyota Motors to Buy from Hold and raised the price target from $221 to $230. Analyst Dmitriy Pozdnyakov from Freedom Broker acknowledged that Toyota provided weak guidance for fiscal year 2027. However, he noted this doesn’t tell the full story.

​The analyst noted that despite the cautious near-term outlook, the company is showing signs of adapting to the current operating environment, which the analyst sees as a meaningful shift. The firm believes this adaptation could set the stage for a recovery in financial performance by fiscal year 2028, making the stock an attractive opportunity at current levels.

​That said, according to a Reuters report published on May 28, Toyota Motor Corporation (NYSE:TM) reported a 3.1% drop in global vehicle sales for April, falling to 849,306 units. This marked the third consecutive month of declining sales. According to the report, the steepest regional declines came from the Middle East, reflecting a 33.7% drop, and China, where sales fell 25.4%. The sales in the US also dropped by 4.6%, which is the company’s largest market. Management attributed the decline in sales figures to difficult market conditions.

​​Toyota Motor Corporation (NYSE:TM) is a global leader in the automotive industry, designing, manufacturing, and selling a wide range of passenger cars, trucks, and commercial vehicles under the Toyota, Lexus, and Daihatsu brands.

READ NEXT: 10 Best Stocks to Buy While the Market Is Down and 14 Stocks That Will Double in the Next 5 Years. 

Disclosure: None. Follow Insider Monkey on Google News.