Mitsubishi Electric: Multiple Positives (Rating Upgrade)

Bloomberg/Bloomberg via Getty Images Elevator Pitch I have a Buy investment rating for Mitsubishi Electric Corporation (OTCPK:MIELF)(OTCPK:MIELY) [6503:JP]. My earlier September 18, 2023 initiation article was focused on the company's Q1 FY 2024 (YE March 31) EBITDA miss and its mid-term ROE target. In this update, my decision is to upgrade my rating for Mitsubishi Electric from a Hold to a Buy, taking into consideration the stock's multiple positives. These positives included continued share repurchases, a ...