<div id="readability-page-1"><p>12:40 AM EST, 12/24/2025 (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:</p><p>We raise our 12-month target price to USD230 (from USD225), which is based on an FY 26 (Mar.) P/E multiple of 14.0x. This valuation reflects a balanced assessment of the company's resilient underlying business, demonstrated by its 5.8% first-half revenue growth, strong global demand for its hybrid vehicles, and robust balance sheet, against the significant, persistent headwinds that are capping near-term earnings potential, namely the profound JPY1.45 trillion full-year impact from U.S. tariffs and substantial foreign exchange losses. We adjust our FY 26 and FY 27 earnings per ADS estimates to JPY2,570 and JPY2,950 (from JPY160 and JPY184), respectively, implying that the company's ongoing cost reduction efforts and strategic investments will largely offset these external pressures, resulting in a stabilized earnings trajectory that, while diminished from prior years, supports the current valuation level without a clear catalyst for a significant upward re-rating of the stock over the coming year.</p> <p>MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</p></div>

丰田汽车

丰田(ADR)

丰田汽车公司

<p>CFRA 对丰田汽车公司维持持有评级，将 12 个月目标价上调至 230 美元。该估值考虑了丰田强劲的业务、对混合动力汽车的强劲需求以及稳健的资产负债表，尽管面临美国关税和外汇损失的挑战。对 2026 财年和 2027 财年的盈利预期进行了调整，反映了成本降低的努力和战略投资。预计在未来一年内不会出现显著的上调评级</p>

Research Alert: CFRA Maintains Hold Opinion On Ads Of Toyota Motor Corporation

- CFRA 将 12 个月目标价上调至 230 美元，基于 FY26 P/E 倍数 14.0 倍。  
- 该公司第一季度收入增长 5.8%，受到美方关税与外汇损失的影响。  
- 调整 FY26 与 FY27 每 ADS 收益预估，预示成本削减与投资可抵消外部压力。

研究警报：CFRA 维持对丰田汽车公司广告的持有评级