Mitsubishi Electric (OTCMKTS:MIELY) Downgraded to Hold Rating by Zacks Research

Key Points

• Zacks Research downgraded Mitsubishi Electric from "strong-buy" to "Hold", while UBS moved its rating up from "strong sell" to "hold", leaving the stock with a consensus analyst rating of Hold.
• Shares were trading up 12.2%, opening at $85.10 with a market cap of $89.92 billion and a P/E of 80.28, and a 52-week range of $37.52 to $86.00 (50-day/200-day moving averages: $71.39 / $63.70).

Mitsubishi Electric (OTCMKTS:MIELY - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Separately, UBS Group raised shares of Mitsubishi Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, March 9th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold".

Mitsubishi Electric Trading Up 12.2%

Shares of Mitsubishi Electric stock opened at $85.10 on Monday. The stock has a market capitalization of $89.92 billion, a price-to-earnings ratio of 80.28 and a beta of 0.58. Mitsubishi Electric has a 1-year low of $37.52 and a 1-year high of $86.00. The firm's 50-day moving average price is $71.39 and its two-hundred day moving average price is $63.70.

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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