Toyota finally had a decent day, up almost $16.
Shares of Toyota Motor were rising sharply Thursday following a report that said the Japanese auto maker planned to double its target for a key measure of financial performance.
U.S.-listed shares of Toyota were up 8.2%, putting them on pace for the largest same-day percentage increase since March 17, 2020, according to Dow Jones Market Data.
The gains came after Nikkei Asia reported Wednesday that Toyota aims to increase its return-on-equity target to 20% . The report cited an unnamed executive. Return on equity, or ROE, measures how effectively a company generates income in relation to its shareholders' equity.
The ambitious plan comes as Toyota grapples with a slow recovery following a four-month production freeze. The company suspended deliveries of its Grand Highlander and Lexus TX SUVs in June due to an airbag issue, with normal operations resuming in October.
I was part of this recall. I finally got it fixed earlier this month.