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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Toyota Motor Corporation    7203   JP3633400001

TOYOTA MOTOR CORPORATION

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Tesla defies doubters as builds on rally ahead of S&P 500 debut

11/23/2020 | 03:03pm EST
FILE PHOTO: The Tesla logo is seen at the entrance to Tesla Motors' showroom in Manhattan's Meatpacking District in New York City

(Reuters) - Tesla shares rose 6% on Monday, approaching a $500 billion market value and extending gains to 27% since news a week ago that the electric car maker will debut in the S&P 500 in December, forcing index funds to buy billions of dollars of its stock.

Up about 500% in 2020, Tesla has become by far the world's most valuable automaker, despite production that is a fraction of Toyota, Volkswagen or General Motors.

Graphic: Tesla in the S&P 500: small profits in a big pond, https://graphics.reuters.com/USA-STOCKS/TESLA/xlbpgzznyvq/chart.png

Tesla is now five times more valuable than GM and Ford combined and the latest rise in the Silicon Valley automaker's shares came after Wedbush analyst Daniel Ives bumped his price target to $560 from $500.

While he maintained his neutral rating, Ives also said the stock could hit $1,000 in a "Bull Case", reflecting steeper demand for electric vehicles in coming years.

However, the median price target of analysts covering the stock is $385, about 26% below the $519 it hit on Monday, reflecting a belief among many on Wall Street that Tesla's shares have become overvalued.

Index funds trying to match the S&P 500's performance will have to buy more than $50 billion of Tesla's stock ahead of its inclusion on Dec. 21, and Goldman Sachs estimated last week that actively managed mutual funds could buy another $8 billion.

Now worth $491 billion, Tesla is Wall Street's seventh most valuable company, just behind Berkshire Hathaway and just ahead of Visa, Refinitiv data shows.

(Reporting by Noel Randewich; Editing by Alexander Smith)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -1.17% 30584.63 Delayed Quote.1.16%
NASDAQ 100 -1.30% 13316.790166 Delayed Quote.4.62%
NASDAQ COMP. -1.48% 13463.422622 Delayed Quote.5.08%
S&P 500 -1.55% 3790.51 Delayed Quote.2.49%
TESLA, INC. -0.57% 877.9 Delayed Quote.25.14%
TOYOTA MOTOR CORPORATION 0.22% 7677 End-of-day quote.-3.52%
VOLKSWAGEN AG -1.83% 160.02 Delayed Quote.6.94%
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Financials
Sales 2021 26 040 B 250 B 250 B
Net income 2021 1 523 B 14 637 M 14 637 M
Net Debt 2021 15 002 B 144 B 144 B
P/E ratio 2021 14,1x
Yield 2021 2,97%
Capitalization 21 048 B 203 B 202 B
EV / Sales 2021 1,38x
EV / Sales 2022 1,24x
Nbr of Employees 359 542
Free-Float 62,2%
Chart TOYOTA MOTOR CORPORATION
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Toyota Motor Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TOYOTA MOTOR CORPORATION
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 8 122,22 JPY
Last Close Price 7 528,00 JPY
Spread / Highest target 27,5%
Spread / Average Target 7,89%
Spread / Lowest Target -25,6%
EPS Revisions
Managers and Directors
NameTitle
Akio Toyoda President, CEO & Representative Director
Takeshi Uchiyamada Chairman
Kenta Kon Chief Financial Officer
Seiji Sakai Manager-Information Systems & IT Management
Masahito Maeda Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
TOYOTA MOTOR CORPORATION-3.52%202 277
VOLKSWAGEN AG6.94%104 262
DAIMLER AG1.90%76 627
GENERAL MOTORS COMPANY24.98%74 485
BMW AG-0.21%56 583
GREAT WALL MOTOR COMPANY LIMITED6.39%52 802