China Mobile Upgraded by Goldman Sachs to “Buy” (CHL)
China Mobile (NYSE:CHl) was upgraded by stock analysts at Goldman Sachs from a “neutral” rating to a “buy” rating in a report issued on Monday, TheFlyOnTheWall.com reports. The firm currently has a $61.00 price objective on the stock, up from their previous price objective of $49.65. Goldman Sachs’ price target would suggest a potential upside of 22.86% from the company’s current price.
China Mobile (NYSE:CHL) traded up 0.99% during mid-day trading on Monday, hitting $50.14. 576,888 shares of the company’s stock traded hands. China Mobile has a 1-year low of $41.35 and a 1-year high of $57.42. The stock’s 50-day moving average is $46.92 and its 200-day moving average is $49.04. The company has a market cap of $201.6 billion and a P/E ratio of 10.34.
The company also recently announced a semiannual dividend, which is scheduled for Thursday, July 3rd. Shareholders of record on Tuesday, May 27th will be paid a dividend of $1.0417 per share. This represents a dividend yield of 4.25%. The ex-dividend date is Thursday, May 22nd.
A number of other analysts have also recently weighed in on CHL. Analysts at Zacks downgraded shares of China Mobile from a “neutral” rating to an “underperform” rating in a research note on Monday, May 12th. They now have a $46.20 price target on the stock. Separately, analysts at HSBC downgraded shares of China Mobile from an “overweight” rating to a “neutral” rating in a research note on Friday, March 21st. Four research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $54.01.
China Mobile Limited provides a range of mobile telecommunications services in 31 provinces, autonomous regions and directly-administered municipalities in the People’s Republic of China, as well as in the Hong Kong Special Administrative Region of the People’s Republic of China.
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