China Mobile (CHL) Upgraded by Zacks Investment Research to Buy

China Mobile (NYSE:CHL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm presently has a $58.00 price objective on the Wireless communications provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.60% from the company’s current price.

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. “

Separately, ValuEngine upgraded shares of China Mobile from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $58.00.

China Mobile (NYSE CHL) traded up $0.45 during mid-day trading on Monday, reaching $51.97. 1,233,212 shares of the company’s stock traded hands, compared to its average volume of 875,629. China Mobile has a 12-month low of $48.70 and a 12-month high of $58.83. The company has a market capitalization of $211,890.00, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 2.46 and a beta of 0.31.

A number of hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC boosted its holdings in shares of China Mobile by 168.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,595 shares of the Wireless communications provider’s stock valued at $181,000 after acquiring an additional 2,255 shares during the period. Naples Global Advisors LLC boosted its holdings in shares of China Mobile by 12.1% during the fourth quarter. Naples Global Advisors LLC now owns 33,363 shares of the Wireless communications provider’s stock valued at $1,686,000 after acquiring an additional 3,598 shares during the period. Mondrian Investment Partners LTD boosted its holdings in shares of China Mobile by 9.5% during the fourth quarter. Mondrian Investment Partners LTD now owns 973,115 shares of the Wireless communications provider’s stock valued at $49,181,000 after acquiring an additional 84,190 shares during the period. Anderson Hoagland & Co. boosted its holdings in shares of China Mobile by 119.7% during the fourth quarter. Anderson Hoagland & Co. now owns 12,115 shares of the Wireless communications provider’s stock valued at $612,000 after acquiring an additional 6,600 shares during the period. Finally, KCS Wealth Advisory acquired a new position in shares of China Mobile during the fourth quarter valued at $584,000. Hedge funds and other institutional investors 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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