Sumitomo Electric Industries (OTCMKTS:SMTOY) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Sumitomo Electric Industries (OTCMKTS:SMTOY) to a hold rating in a report issued on Thursday morning,Zacks.com reports.

Separately, The Goldman Sachs Group raised shares of Sumitomo Electric Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 7th.

Sumitomo Electric Industries Price Performance

OTCMKTS:SMTOY opened at $27.58 on Thursday. The business’s 50-day simple moving average is $22.77 and its two-hundred day simple moving average is $19.27. Sumitomo Electric Industries has a 52 week low of $12.12 and a 52 week high of $29.31.

About Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. manufactures and sells electric wires and cables worldwide. It operates through Automotive, Infocommunications, Electronics, Environment and Energy, and Industrial Materials and Others segments. The company offers wiring harnesses and electrical components; steel cords for tire reinforcement; steel wires for springs; wiring materials; optical lenses for infrared devices; abrasion-resistant parts/materials; heat shrink and heat-resistant tubing/tapes; magnet and aluminum bars/wires; products for electronic devices; sintered parts; and EV quick-charger connector assemblies.