Zacks Investment Research Downgrades China Mobile (CHL) to Hold
Zacks Investment Research cut shares of China Mobile (NYSE:CHL) from a buy rating to a hold rating in a report issued on Tuesday morning.
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. “
Several other brokerages have also recently commented on CHL. ValuEngine raised China Mobile from a sell rating to a hold rating in a research report on Tuesday, October 2nd. Credit Suisse Group cut China Mobile from an outperform rating to a neutral rating in a research report on Friday, October 26th. Finally, BNP Paribas cut China Mobile from a buy rating to a hold rating in a research report on Tuesday, July 31st. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $56.00.
A number of large investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new stake in China Mobile in the third quarter valued at approximately $4,893,000. Pzena Investment Management LLC raised its stake in China Mobile by 355.1% in the third quarter. Pzena Investment Management LLC now owns 93,300 shares of the Wireless communications provider’s stock valued at $4,565,000 after buying an additional 72,800 shares during the period. FMR LLC raised its stake in China Mobile by 4.2% in the third quarter. FMR LLC now owns 94,188 shares of the Wireless communications provider’s stock valued at $4,609,000 after buying an additional 3,788 shares during the period. Brandes Investment Partners LP raised its stake in China Mobile by 2.4% in the third quarter. Brandes Investment Partners LP now owns 1,419,114 shares of the Wireless communications provider’s stock valued at $69,437,000 after buying an additional 33,795 shares during the period. Finally, Twin Tree Management LP raised its stake in China Mobile by 27.4% in the third quarter. Twin Tree Management LP now owns 88,388 shares of the Wireless communications provider’s stock valued at $4,325,000 after buying an additional 19,024 shares during the period. Hedge funds and other institutional investors own 1.99% 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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