Sumitomo Corp. (OTCMKTS:SSUMY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $12.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 7.72% from the company’s current price.

According to Zacks, “Sumitomo Corporation is engaged in multifaceted business activities. It operates as an integrated trading company worldwide. The Company sells a variety of domestic products and services, conducts import, export and trilateral business transactions. The Company also provides domestic and international business investment, and participates in numerous other activities in various industrial sectors around the world. Its business includes metal products, transportation & construction systems, infrastructure, media, network & lifestyle retail, mineral resources, energy, chemical & electronics, general products & real estate, new industry development & cross-function and corporate group. Sumitomo Corporation is headquartered in Tokyo, Japan. “

Shares of Sumitomo Corp. (OTCMKTS:SSUMY) opened at 11.14 on Wednesday. The company’s 50 day moving average is $10.87 and its 200-day moving average is $10.39. The company has a market capitalization of $13.90 billion, a PE ratio of 92.83 and a beta of 0.78. Sumitomo Corp. has a 52 week low of $8.85 and a 52 week high of $11.33.

Sumitomo Corp. Company Profile

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