Market News

Toyota (NYSE:TM) Faces Chip Shortage Woes

Toyota (NYSE:TM) is slashing its production target for October as chip shortage challenges mount, according to Reuters. The company is lowering its target by 6.3% and the development could mean a hit to production levels in the second half of the year.

Nonetheless, Toyota has kept its annual production target intact at 9.7 million. Notably, the company’s vehicle production registered a 44.3% growth for the month of August.

Will Toyota Stock Go Up?

Toyota shares are now down 29.2% year-to-date but the Street sees double-digit gains in the stock.

Overall, Toyota stock has a Hold consensus rating alongside an average price target of $179.41. This indicates a hefty 36.10% potential upside in TM stock.

Read full Disclosure

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More