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Downgrade Alert for Toyota Motor (TM)

By Shiri Gupta

Toyota Motor (NYSE:TM) was downgraded from Buy to Neutral at Mizuho today. The stock closed yesterday at $98.42 on volume of 1.2 million shares, above average daily volume of 468,000.

Toyota Motor Corporation manufactures, sells, leases, and repairs passenger cars, trucks, buses, and their related parts worldwide. The Company also operates financing services through their subsidiaries. Toyota Motor builds homes, produces pleasure boats, and develops intelligent transportation systems including radar cruise control and electronic toll collection systems.

In the past 52 weeks, shares of Toyota Motor have traded between a low of $97.80 and a high of $142.34 and closed yesterday at $98.44, which is 1% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.3%.

There is potential upside of 39.8% for shares of Toyota Motor based on a current price of $98.44 and an average consensus analyst price target of $137.58. The stock should run into initial resistance at its 50-day moving average (MA) of $105.09 and subsequent resistance at its 200-day MA of $116.93.

SmarTrend is monitoring the recent change of momentum in Toyota Motor. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Toyota Motor in search of a potential trend change.

Keywords: analyst upgrades/downgrades Toyota Motor

Ticker(s): TM