Jefferies Financial Group upgraded shares of Sumitomo Electric Industries (OTCMKTS:SMTOY – Free Report) from a hold rating to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.
Sumitomo Electric Industries Stock Performance
Shares of 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 stock’s 50-day moving average price is $50.13 and its 200 day moving average price 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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