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Nomura and Mizuho Join Bullish Shift on Toyota as EV Fears Ease
- Nomura raises price target to the highest among analysts
- Toyota shares posted biggest weekly gain in seven years
A Toyota Prius plug-in hybrid electric vehicle.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Analysts are becoming more optimistic toward Toyota Motor Corp. as fears retreat that the world’s biggest automaker is lagging in a shift to electric vehicles.
At least four companies including Nomura Securities Co. and Mizuho Securities Co. raised their price targets for Toyota since the Japanese automaker unveiled details of battery development plans and other technologies last week, according to data compiled by Bloomberg. Nomura raised its price target to 3,100 yen ($22) from 2,650 yen, the highest among analysts covering Toyota, the data show. The stock closed at 2,218.5 yen on Wednesday.