Zacks Research upgraded shares of Mitsubishi Electric (OTCMKTS:MIELY – Free Report) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.
Mitsubishi Electric Stock Performance
OTCMKTS MIELY opened at $70.30 on Tuesday. Mitsubishi Electric has a one year low of $30.89 and a one year high of $78.69. The company’s 50 day moving average price is $67.27 and its 200 day moving average price is $58.29. The firm has a market capitalization of $74.28 billion, a price-to-earnings ratio of 66.32 and a beta of 0.52.
About Mitsubishi Electric
Mitsubishi Electric Corporation (OTCMKTS: MIELY) is a Tokyo-based multinational manufacturer of electrical and electronic equipment. Founded in 1921, the company is part of the broader Mitsubishi Group and has grown into a diversified industrial enterprise serving commercial, industrial and consumer markets. Mitsubishi Electric develops, manufactures and sells a wide range of products and systems used in building systems, factory automation, power generation and distribution, transportation, and information and communication infrastructure.
The company’s product and service portfolio includes air-conditioning and heating systems, elevators and escalators, factory automation and control equipment, power and electric systems, transportation systems and signaling for railways, and semiconductors and electronic devices.
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