Mitsubishi Electric (OTCMKTS:MIELY) Raised to Hold at UBS Group

Mitsubishi Electric (OTCMKTS:MIELY) was upgraded by equities researchers at UBS Group from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Zacks Research raised Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Mitsubishi Electric Stock Up 2.1%

Shares of OTCMKTS:MIELY opened at $69.73 on Monday. The stock has a market cap of $73.68 billion, a PE ratio of 65.78 and a beta of 0.52. The company’s fifty day moving average is $67.87 and its 200 day moving average is $58.80. Mitsubishi Electric has a 52 week low of $30.89 and a 52 week high of $78.69.

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.