Sumitomo Electric Industries (OTCMKTS:SMTOY – Get Free Report) was upgraded by stock analysts at Jefferies Financial Group from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.
Sumitomo Electric Industries Stock Performance
OTCMKTS SMTOY opened at $61.60 on Wednesday. Sumitomo Electric Industries has a 12 month low of $12.12 and a 12 month high of $72.29. The company’s 50 day moving average is $50.13 and its two-hundred day moving average is $39.47.
About Sumitomo Electric Industries
Sumitomo Electric Industries, Ltd. is a diversified Japanese industrial manufacturing company renowned for its expertise in electric wire and cable technologies. The company operates through multiple business segments, including power and communications systems, automotive and electronics materials, and industrial materials. Its product portfolio spans high-performance power cables, optical fibers, wiring harnesses, and various electronic components designed to serve the needs of energy utilities, telecommunications carriers, automotive manufacturers and industrial clients worldwide.
In the power and communications segment, Sumitomo Electric produces underground and submarine power cables, cable accessories and optical fiber cables for high-speed data transmission.
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