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 Monday,Zacks.com reports.

Mitsubishi Electric Trading Up 3.6%

MIELY stock opened at $69.42 on Monday. The stock’s 50 day simple moving average is $74.47 and its 200 day simple moving average is $71.69. Mitsubishi Electric has a 12-month low of $43.03 and a 12-month high of $86.00. The stock has a market capitalization of $73.35 billion, a PE ratio of 65.49 and a beta of 0.75.

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.