Toyota (TM) reported a strong 3rd quarter yesterday after the Tokyo Stock Exchange closed. Today was the first time its shares traded in Japan after its earnings announcement. Despite its double digit percentage increases in net revenue, operating income, and net income and even a statement that it plans to exceed its annual forecast (no upward revision), its shares in Tokyo closed down 1.15% to 6,050 yen (US$51.10 at Y118.4/US$1). Both Mizuho Securities and Nikko-Citi Securities raised their target prices, with the latter reportedly raising it to 10,000 yen (US$84.46 at Y118/US$1). Two shares of its ADRs equal one ordinary share so its close of 6,050 yen can be converted to $102.20, slightly higher than where its ADRs are currently trading this morning at $102.00 (down 2.20% from yesterday). Toyota's ADRs gained 1.34% yesterday to close at $104.29 after an intraday high of $106.19. Its 52-wk high stands at $108.25 set on January 9th.