Toyota’s outlook still looks bright

Article Excerpt

TOYOTA MOTOR CO. ADRs $180 is a buy. The Japanese giant (New York symbol TM; Conservative Growth Portfolio, Manufacturing & Industry sector; ADRs outstanding: 1.4 billion; Market cap: $252.0 billion; Price-to-sales ratio: 0.1; Dividend yield: 2.5%; TSINetwork Rating: Above Average; www.toyota.com) is the world’s largest automaker. In June 2021, the company sold 207,331 vehicles in the U.S. That’s up 39.8% from June 2020, when the emergence of COVID-19 depressed sales. Toyota is also seeing stronger demand for alternative-powered vehicles, including electric cars and hybrids. Those vehicles accounted for 22.2% of its total sales in June 2021. Due to a new wave of COVID-19 outbreaks, Toyota has temporarily suspended production at three plants in Thailand and one in Japan. These setbacks should have little impact on the company’s earnings. Toyota is a buy. buy…