China Mobile (NYSE:CHL) Lifted to “Outperform” at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of China Mobile (NYSE:CHL) from a market perform rating to an outperform rating in a report released on Thursday morning, Briefing.com Automated Import reports.

Several other research firms have also issued reports on CHL. Zacks Investment Research upgraded China Mobile from a sell rating to a hold rating in a research note on Friday, August 2nd. Mizuho upgraded China Mobile from an underperform rating to a neutral rating in a research note on Thursday, August 8th. Credit Suisse Group upgraded China Mobile from a neutral rating to an outperform rating and set a $46.65 price objective for the company in a research note on Wednesday, May 8th. JPMorgan Chase & Co. lowered China Mobile from an overweight rating to a neutral rating in a research note on Thursday, August 8th. Finally, ValuEngine lowered China Mobile from a hold rating to a sell rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $53.22.

China Mobile stock opened at $42.00 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a fifty day moving average price of $43.53 and a two-hundred day moving average price of $47.71. China Mobile has a 52-week low of $39.77 and a 52-week high of $55.84. The firm has a market capitalization of $171.18 billion, a P/E ratio of 10.10, a P/E/G ratio of 2.15 and a beta of 0.65.

Several hedge funds have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of China Mobile by 6.4% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 28,264 shares of the Wireless communications provider’s stock worth $1,263,000 after purchasing an additional 1,710 shares during the last quarter. Summit Global Investments grew its holdings in shares of China Mobile by 25.6% during the second quarter. Summit Global Investments now owns 14,600 shares of the Wireless communications provider’s stock worth $661,000 after purchasing an additional 2,975 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of China Mobile by 78.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,128 shares of the Wireless communications provider’s stock worth $595,000 after purchasing an additional 5,754 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of China Mobile during the second quarter worth $236,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of China Mobile during the second quarter worth $2,447,000. Institutional investors own 2.06% of the company’s stock.

About China Mobile

China Mobile Limited provides mobile telecommunications and related services in Mainland China and Hong Kong. The company offers 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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