Mobile Telesystems Upgraded to Neutral by Credit Suisse (MBT)
Mobile Telesystems (NYSE:MBT) was upgraded by analysts at Credit Suisse from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $19.00 price target on the stock, down from their previous price target of $20.00. Credit Suisse’s price target would indicate a potential upside of 8.57% from the company’s current price.
The analysts wrote, “Upgrade to Neutral from Underperform as one of the risks we highlighted in our note ‘Russian Mobile – Downgrading on risks in 2014-15E’ – weaker growth outlook manifested in guidance downgrade – materialised. Slightly higher capex guidance in addition to further FX weakening YTD is the main reason for our TP decrease to US$19 from US$20. The stock is down 16% YTD and is now trading at more attractive levels. However, our concerns over increasing competition risks and continued macro uncertainty warrants a Neutral rating.”
Mobile Telesystems (NYSE:MBT) traded up 0.74% on Wednesday, hitting $17.63. The stock had a trading volume of 2,480,886 shares. Mobile Telesystems has a 52-week low of $16.77 and a 52-week high of $24.06. The stock has a 50-day moving average of $19.8 and a 200-day moving average of $21.14. The company has a market cap of $17.533 billion and a P/E ratio of 6.74.
Mobile Telesystems (NYSE:MBT) last released its earnings data on Tuesday, November 19th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.40 by $0.16. Analysts expect that Mobile Telesystems will post $66.95 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank upgraded shares of Mobile Telesystems from a “hold” rating to a “buy” rating in a research note to investors on Friday, December 20th. Analysts at Barclays upgraded shares of Mobile Telesystems from an “underweight” rating to an “equal weight” rating in a research note to investors on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Mobile Telesystems presently has an average rating of “Hold” and an average price target of $22.53.
Mobile TeleSystems OJSC (NYSE:MBT) is a telecommunications provider in Russia and the Commonwealth of Independent States, providing a range of mobile and fixed line voice and data telecommunications services, including transmission, broadband, pay-television and various value-added services, as well as selling equipment and accessories.
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