Toyota Gets Upgrade, Sales Rise 11.2%

NEW YORK ( TheStreet) -- Shares of Toyota ( TM) were upgraded to buy at TheStreet Ratings on Tuesday, prior to the automaker reporting a sales increase of 11.2% in March.

Toyota was upgraded to buy from hold by TheStreet Ratings.

"The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and solid stock price performance," TheStreet Ratings wrote. "We feel these strengths outweigh the fact that the company has had sub par growth in net income."

Toyota gets a B grade and $100.28 price target from TheStreet Ratings. The stock has risen 29.99% year to date.

The company's March sales increased 11.2% from the previous year to 203,282 cars. By brand, TMS Hybrids saw the biggest rise of 49% to 38,215. Toyota brand car sales increased 19.5% to 113,135 cars, and Lexus sales gained 5.4% to 11,477.

Shares of Toyota fell 83 cents, or 0.96%, in trading Tuesday afternoon to $85.86.

-- Written by Alexandra Zendrian

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