China Mobile (CHL) Upgraded by Zacks Investment Research to “Hold”

China Mobile (NYSE:CHL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “China Mobile offers mobile communications services principally using Global System for Mobile Communications, or GSM, which is a pan-European mobile telephone system based on digital transmission and mobile communications network architecture with roaming capabilities. Our GSM networks reach all cities and counties and most major roads and highways in our service regions. “

A number of other research analysts also recently issued reports on the company. HSBC upgraded China Mobile from a “hold” rating to a “buy” rating in a report on Monday, March 5th. Jefferies Financial Group upgraded China Mobile from an “underperform” rating to a “hold” rating in a report on Thursday, March 22nd. Nomura downgraded China Mobile from a “buy” rating to a “neutral” rating in a report on Monday, March 12th. Mizuho downgraded China Mobile from a “buy” rating to a “neutral” rating in a report on Thursday, June 7th. Finally, ValuEngine downgraded China Mobile from a “hold” rating to a “sell” rating in a report on Friday, June 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $52.00.

China Mobile opened at $43.78 on Tuesday, according to Marketbeat. China Mobile has a 1-year low of $43.63 and a 1-year high of $56.93. The stock has a market capitalization of $179.12 billion, a PE ratio of 10.60, a P/E/G ratio of 2.06 and a beta of 0.53.

Hedge funds have recently bought and sold shares of the business. Credit Capital Investments LLC purchased a new position in shares of China Mobile during the 4th quarter worth approximately $2,274,000. Raymond James & Associates grew its holdings in shares of China Mobile by 4.6% during the 4th quarter. Raymond James & Associates now owns 100,117 shares of the Wireless communications provider’s stock worth $5,060,000 after acquiring an additional 4,436 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of China Mobile by 21.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 56,870 shares of the Wireless communications provider’s stock worth $2,874,000 after acquiring an additional 10,188 shares during the period. Two Sigma Advisers LP grew its holdings in shares of China Mobile by 34.1% during the 4th quarter. Two Sigma Advisers LP now owns 550,500 shares of the Wireless communications provider’s stock worth $27,822,000 after acquiring an additional 140,100 shares during the period. Finally, Profund Advisors LLC grew its holdings in shares of China Mobile by 1.6% during the 1st quarter. Profund Advisors LLC now owns 145,449 shares of the Wireless communications provider’s stock worth $6,654,000 after acquiring an additional 2,311 shares during the period. Hedge funds and other institutional investors own 1.90% of the company’s stock.

About China Mobile

China Mobile Limited, an investment holding company, provides mobile telecommunications and related services in Mainland China and Hong Kong. The company offers voice services, including local calls; domestic and international long distance calls and roaming services; and value-added services, such as caller identity display, call waiting, conference calls, and others.

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