<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>

豐田汽車

豐田(ADR)

豐田汽車公司

<p>CFRA 對豐田汽車公司維持持有評級，將 12 個月目標價上調至 230 美元。該估值考慮了豐田強勁的業務、對混合動力汽車的強勁需求以及穩健的資產負債表，儘管面臨美國關税和外匯損失的挑戰。對 2026 財年和 2027 財年的盈利預期進行了調整，反映了成本降低的努力和戰略投資。預計在未來一年內不會出現顯著的上調評級</p>

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

- CFRA 將 12 個月目標價上調至 230 美元，基於 FY26 P/E 倍數 14.0 倍。  
- 該公司第一季度收入增長 5.8%，受到美方關税與外匯損失的影響。  
- 調整 FY26 與 FY27 每 ADS 收益預估，預示成本削減與投資可抵消外部壓力。

研究警報：CFRA 維持對豐田汽車公司廣告的持有評級