3 Top Dividend Stocks With High Upside Potential

Toyota Motor Corporation (TM - Get Rating)

TM is one of the largest automakers in the world, with over 10 million units sold last year. Its brands include Toyota, Lexus, Daihatsu, and Hino. The company has close to a 50% market share in Japan, and its portfolio includes a full range of models from passenger cars and minivans to trucks and accessories. TM is also working on fuel cells and automated vehicles.

Similar to most automakers these days, TM plans to offer an electrified model or an electrified option for customers of Toyota or Lexus models by 2025. Its long-term growth is expected to be supported by its electric initiatives. The company is looking to achieve 40% of global sales from electric vehicles by 2025 and nearly 70% by 2035. TM is also working on hydrogen fuel stations and partnering with Hino to manufacture a heavy-duty hydrogen fuel cell electric truck.

TM has a dividend yield of 2.7% and is trading 13% below its average target price. The company has an overall grade of B or a Buy rating in our POWR Ratings system. TM has a Momentum Grade of B, which makes sense as the stock has shown bullish momentum over the past month. The company also has a Sentiment Grade of A as fourteen out of twenty analysts rate the stock a Buy or Overweight.

To access the rest of TM’s grades (Growth, Value, Stability, and Quality), click here. TM is ranked #20 in the B-rated Auto & Vehicle Manufacturers industry. For other top stocks in this industry, click here.

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