Mitsubishi Electric (OTCMKTS:MIELY) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Mitsubishi Electric (OTCMKTS:MIELY) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

Mitsubishi Electric Price Performance

Shares of MIELY traded down $2.86 on Tuesday, hitting $70.16. The company’s stock had a trading volume of 194,105 shares, compared to its average volume of 141,840. The company has a market capitalization of $74.13 billion, a PE ratio of 66.18 and a beta of 0.52. Mitsubishi Electric has a fifty-two week low of $30.89 and a fifty-two week high of $78.69. The company has a 50 day moving average price of $67.04 and a 200 day moving average price of $58.21.

Mitsubishi Electric Company Profile

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.