China Mobile (CHL) Cut to Reduce at New Street Research

China Mobile (NYSE:CHL) was downgraded by equities research analysts at New Street Research from a “neutral” rating to a “reduce” rating in a note issued to investors on Monday, The Fly reports.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded China Mobile from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, January 24th. Nomura raised China Mobile from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Credit Suisse Group downgraded China Mobile from an “outperform” rating to a “neutral” rating in a report on Friday, October 26th. Finally, Mizuho downgraded China Mobile from a “neutral” rating to an “underperform” rating in a report on Monday, November 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $58.00.

Shares of China Mobile stock traded down $0.50 on Monday, hitting $52.07. The stock had a trading volume of 27,215 shares, compared to its average volume of 1,248,630. China Mobile has a twelve month low of $43.25 and a twelve month high of $53.44. The company has a market capitalization of $214.50 billion, a P/E ratio of 12.62, a P/E/G ratio of 3.08 and a beta of 0.63.

Hedge funds have recently made changes to their positions in the stock. Legacy Financial Advisors Inc. grew its stake in shares of China Mobile by 50.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 892 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 298 shares during the period. Cornerstone Advisors Inc. increased its position in shares of China Mobile by 121.2% during the 3rd quarter. Cornerstone Advisors Inc. now owns 637 shares of the Wireless communications provider’s stock worth $31,000 after purchasing an additional 349 shares in the last quarter. Unison Advisors LLC increased its position in shares of China Mobile by 1.6% during the 4th quarter. Unison Advisors LLC now owns 23,523 shares of the Wireless communications provider’s stock worth $1,129,000 after purchasing an additional 364 shares in the last quarter. Cerity Partners LLC increased its position in shares of China Mobile by 8.9% during the 4th quarter. Cerity Partners LLC now owns 6,080 shares of the Wireless communications provider’s stock worth $292,000 after purchasing an additional 495 shares in the last quarter. Finally, Creative Planning increased its position in shares of China Mobile by 12.5% during the 4th quarter. Creative Planning now owns 5,105 shares of the Wireless communications provider’s stock worth $245,000 after purchasing an additional 568 shares in the last quarter. Hedge funds and other institutional investors own 2.09% of the company’s stock.

China Mobile Company Profile

China Mobile Limited, an investment holding company, provides mobile telecommunications and related services in Mainland China and Hong Kong. The company offers voice services, including local calls; domestic and international long distance calls and roaming services; and value-added services, such as caller identity display, call waiting, conference calls, and others.

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