Mitsubishi Electric upgraded to Buy from Sell at Goldman Sachs

Goldman Sachs analyst Yuichiro Isayama upgraded Mitsubishi Electric to Buy from Sell with a price target of 2,500 yen, up from 1,450 yen. The firm had previously thought it would take time to regain investor confidence given low returns compared to competitors, weak inter-business synergies and internal controls and use of improper data on product quality, but management has been laying the groundwork to address issues such as improving profitability and achieving inter-business synergies, the analyst tells investors.