China Mobile (CHL) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of China Mobile (NYSE:CHL) from a sell rating to a hold rating in a research note issued to investors 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. “
Several other analysts have also recently issued reports on the company. ValuEngine upgraded China Mobile from a hold rating to a buy rating in a research report on Friday, December 1st. Bank of America assumed coverage on China Mobile in a research report on Wednesday, August 30th. They set a buy rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $57.00.
Shares of China Mobile (NYSE:CHL) opened at $49.25 on Tuesday. China Mobile has a 1 year low of $48.70 and a 1 year high of $58.83.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Israel Discount Bank of New York grew its holdings in China Mobile by 43.0% during the 2nd quarter. Israel Discount Bank of New York now owns 3,075 shares of the Wireless communications provider’s stock valued at $163,000 after buying an additional 925 shares in the last quarter. Westside Investment Management Inc. grew its holdings in China Mobile by 507.6% during the 3rd quarter. Westside Investment Management Inc. now owns 3,099 shares of the Wireless communications provider’s stock valued at $156,000 after buying an additional 2,589 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of China Mobile by 61.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,237 shares of the Wireless communications provider’s stock valued at $164,000 after purchasing an additional 1,237 shares during the last quarter. High Pointe Capital Management LLC bought a new stake in shares of China Mobile in the 2nd quarter valued at approximately $205,000. Finally, National Asset Management Inc. lifted its stake in shares of China Mobile by 2.5% in the 2nd quarter. National Asset Management Inc. now owns 4,016 shares of the Wireless communications provider’s stock valued at $215,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 2.00% of the company’s stock.
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China Mobile Company Profile
China Mobile Limited is an investment holding company principally engaged in telecommunication and related businesses. Its main businesses include Mobile businesses, Wireline Broadband businesses and Internet of Things (IoT) businesses. Mobile businesses include two categories of services. Voice services include local calls, domestic and international long distance calls, roaming services and voice value-added services.
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