China Mobile (CHL) Raised to Buy at Jefferies Financial Group

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Jefferies Financial Group upgraded shares of China Mobile (NYSE:CHL) from a hold rating to a buy rating in a research report released on Monday, Marketbeat Ratings reports. Jefferies Financial Group also issued estimates for China Mobile’s FY2023 earnings at $4.94 EPS.

A number of other equities research analysts have also recently issued reports on the stock. BNP Paribas cut shares of China Mobile from an outperform rating to a neutral rating in a report on Wednesday, February 13th. New Street Research cut shares of China Mobile from a neutral rating to a reduce rating in a report on Monday, February 11th. Zacks Investment Research upgraded shares of China Mobile from a hold rating to a buy rating and set a $58.00 price objective for the company in a report on Thursday, January 24th. Nomura upgraded shares of China Mobile from a neutral rating to a buy rating in a report on Monday, January 7th. Finally, Mizuho cut shares of 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, three have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $58.00.

Shares of NYSE:CHL opened at $54.20 on Monday. The firm has a market capitalization of $221.95 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 2.95 and a beta of 0.65. China Mobile has a 1 year low of $43.25 and a 1 year high of $54.29.

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of China Mobile by 51.9% during the fourth quarter. FMR LLC now owns 143,068 shares of the Wireless communications provider’s stock valued at $6,867,000 after purchasing an additional 48,880 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of China Mobile by 1,169.5% during the fourth quarter. Global Retirement Partners LLC now owns 749 shares of the Wireless communications provider’s stock valued at $36,000 after purchasing an additional 690 shares during the last quarter. Premier Asset Management LLC grew its stake in shares of China Mobile by 7.5% during the fourth quarter. Premier Asset Management LLC now owns 35,745 shares of the Wireless communications provider’s stock valued at $1,715,000 after purchasing an additional 2,505 shares during the last quarter. Sontag Advisory LLC bought a new stake in shares of China Mobile during the fourth quarter valued at approximately $28,000. Finally, MML Investors Services LLC grew its stake in shares of China Mobile by 2.7% during the fourth quarter. MML Investors Services LLC now owns 11,948 shares of the Wireless communications provider’s stock valued at $573,000 after purchasing an additional 309 shares during the last quarter. 2.02% of the stock is owned by hedge funds and other institutional investors.

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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