Mitsubishi Electric (OTCMKTS:MIELY) Sets New 1-Year High - Still a Buy?

Key Points

• Mitsubishi Electric shares hit a new 52-week high of $54.24 during trading, showing significant price movement from the previous close of $51.17.
• CLSA upgraded Mitsubishi Electric to a "hold" rating, contributing to an overall consensus rating of "Hold" from analysts.
• The company has a market capitalization of $57.04 billion and a PE ratio of 28.71, indicating its strong position in the market.

Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as $54.24 and last traded at $54.24, with a volume of 44031 shares changing hands. The stock had previously closed at $51.17.

Wall Street Analysts Forecast Growth

Separately, CLSA raised Mitsubishi Electric to a "hold" rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

Mitsubishi Electric Stock Up 5.5%

The business has a 50-day moving average price of $49.50 and a two-hundred day moving average price of $43.07. The firm has a market cap of $57.04 billion, a PE ratio of 28.71 and a beta of 0.54.

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation develops, manufactures, distributes, and sells electrical and electronic equipment worldwide. The company operates through: Infrastructure, Industry Mobility, Life, Business Platform, Semiconductor and Device, and Others segments. It offers turbine generators, nuclear power plant and power electronics equipment, motors, transformers, circuit breakers, gas insulated switchgears, switch controls, surveillance-system control and security systems, transmission and distribution ICT systems, display devices, locomotive and rolling stock electrical equipment, wireless and wired communications systems, network camera systems, elevators, escalators, building security and management systems, and others.

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