Mobile TeleSystems OAO (NYSE:MBT)’s share price shot up 3.2% on Friday . The stock traded as high as $8.23 and last traded at $8.18, with a volume of 907,208 shares changing hands. The stock had previously closed at $7.93.

Several research firms have recently weighed in on MBT. Vetr downgraded Mobile TeleSystems OAO from a “strong-buy” rating to a “buy” rating and set a $10.36 target price on the stock. in a research report on Thursday, May 5th. Credit Suisse Group AG began coverage on Mobile TeleSystems OAO in a research report on Monday, June 20th. They set an “outperform” rating and a $10.00 target price on the stock. Zacks Investment Research raised Mobile TeleSystems OAO from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Tuesday, May 24th. Finally, HSBC downgraded Mobile TeleSystems OAO from a “buy” rating to a “hold” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $9.69.

The firm has a market capitalization of $8.10 billion and a P/E ratio of 5.57. The stock’s 50-day moving average price is $8.73 and its 200-day moving average price is $8.50.

The firm also recently declared a dividend, which was paid on Tuesday, August 9th. Shareholders of record on Tuesday, July 5th were given a dividend of $0.4203 per share. The ex-dividend date of this dividend was Thursday, June 30th.

An institutional investor recently raised its position in Mobile TeleSystems OAO stock. AJO LP boosted its stake in shares of Mobile TeleSystems OAO (NYSE:MBT) by 50.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 485,339 shares of the company’s stock after buying an additional 163,150 shares during the period. AJO LP’s holdings in Mobile TeleSystems OAO were worth $2,999,000 as of its most recent SEC filing.

Mobile TeleSystems Public Joint Stock Company, formerly Mobile TeleSystems Open Joint Stock Company, is a provider of telecommunications services. The Company provides mobile and fixed line voice and data telecommunications services, including data transfer, broadband, pay-television (pay-TV) and various value-added services, as well as selling equipment and accessories.

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