Toyota stock surges 9% after report says the carmaker aims to double profitability

Toyota

• US-listed shares of Toyota surged 9% Thursday to trade at an intraday high of $197.44.
• The rise came after Nikkei reported the company aims to double its ROE target to 20%, citing an unnamed executive.
• The stock has cratered since reaching an all-time high in March amid slowing demand growth and tariff risks.

Toyota's stock is skyrocketing as investors look to cash in on the company's reported efforts to increase profitability.