Mizuho Downgrades Mitsubishi Electric (OTCMKTS:MIELY) to Neutral

Mizuho downgraded shares of Mitsubishi Electric (OTCMKTS:MIELY – Get Rating) from a buy rating to a neutral rating in a report issued on Monday morning, The Fly reports.

Several other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Mitsubishi Electric from an underweight rating to a neutral rating in a research note on Friday, March 10th. Jefferies Financial Group raised Mitsubishi Electric from a hold rating to a buy rating in a report on Monday, January 30th. Finally, Citigroup raised Mitsubishi Electric from a sell rating to a neutral rating in a research note on Monday, February 13th.

Mitsubishi Electric Stock Performance

Shares of OTCMKTS:MIELY opened at $25.60 on Monday. The company’s fifty day moving average is $24.45 and its 200-day moving average is $22.14. Mitsubishi Electric has a 52 week low of $17.23 and a 52 week high of $26.61.

About Mitsubishi Electric

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Mitsubishi Electric Corp. engages in the manufacture, development, and sale of electric and electronic equipment. It operates in the following business segments: Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, Electronic Devices, Home Appliances, and Others.