China Mobile (Hong Kong) Ltd. (NYSE:CHL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage presently has a $57.00 price objective on the Wireless communications provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.56% from the company’s previous close.

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 equities research analysts have also issued reports on the company. Bank of America Corporation started coverage on China Mobile (Hong Kong) in a research note on Wednesday, August 30th. They issued a “buy” rating for the company. Morgan Stanley lowered China Mobile (Hong Kong) from an “overweight” rating to an “underweight” rating in a research note on Wednesday, July 5th. Finally, BidaskClub upgraded China Mobile (Hong Kong) from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.00.

China Mobile (NYSE CHL) traded up 0.12% during midday trading on Monday, reaching $50.70. The company had a trading volume of 1,002,882 shares. The firm has a market capitalization of $207.62 billion, a PE ratio of 12.23 and a beta of 0.31. China Mobile has a 12 month low of $50.45 and a 12 month high of $63.26. The firm’s 50-day moving average price is $54.04 and its 200 day moving average price is $54.24.

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Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in China Mobile (Hong Kong) by 26.4% during the 1st quarter. Vanguard Group Inc. now owns 139,011 shares of the Wireless communications provider’s stock valued at $7,677,000 after purchasing an additional 29,022 shares in the last quarter. Bank of Montreal Can grew its stake in China Mobile (Hong Kong) by 25.3% during the 2nd quarter. Bank of Montreal Can now owns 230,423 shares of the Wireless communications provider’s stock valued at $12,233,000 after purchasing an additional 46,551 shares in the last quarter. BT Investment Management Ltd acquired a new stake in China Mobile (Hong Kong) during the 2nd quarter valued at approximately $42,224,000. NorthCoast Asset Management LLC grew its stake in China Mobile (Hong Kong) by 147.6% during the 1st quarter. NorthCoast Asset Management LLC now owns 86,441 shares of the Wireless communications provider’s stock valued at $4,774,000 after purchasing an additional 51,529 shares in the last quarter. Finally, Morgan Stanley grew its stake in China Mobile (Hong Kong) by 13.9% during the 1st quarter. Morgan Stanley now owns 868,708 shares of the Wireless communications provider’s stock valued at $47,978,000 after purchasing an additional 105,974 shares in the last quarter. Hedge funds and other institutional investors own 1.97% of the company’s stock.

About China Mobile (Hong Kong)

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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Analyst Recommendations for China Mobile (Hong Kong) (NYSE:CHL)

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