RESEARCH ALERT-Goldman ups Toyota earning f'cast, rating

Newswire

TOKYO, Oct 31 (Reuters) - Goldman Sachs said on Thursday it raised its earnings estimate and investment rating on Toyota Motor Corp after Japan's top automaker reported strong first half results. The brokerage now forecasts a group operating profit of 1.375 trillion yen ($11.18 billion) for the year through next March, above its previous estimate of 1.238 trillion yen. Citing faster-than-expected cost cutting, a strong presence in domestic market, and cheap valuation, Goldman's auto ...

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