Zacks Investment Research upgraded shares of China Mobile (NYSE:CHL) from a sell rating to a hold rating in a report published on Tuesday, Zacks.com reports.

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. “

CHL has been the topic of several other reports. HSBC cut China Mobile from a buy rating to a hold rating in a research report on Thursday, March 21st. Citigroup reissued a buy rating on shares of China Mobile in a research report on Friday, March 22nd. Jefferies Financial Group reissued a hold rating on shares of ZTE/Shs H Vtg 1.00 in a research report on Monday, March 11th. Goldman Sachs Group set a GBX 4,300 ($56.19) price objective on ASOS and gave the company a buy rating in a research report on Monday, April 15th. Finally, Credit Suisse Group set a €92.00 ($106.98) price objective on Bayerische Motoren Werke and gave the company a buy rating in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $53.22.

Shares of CHL stock opened at $44.81 on Tuesday. The company has a 50-day moving average price of $44.89. The firm has a market capitalization of $183.50 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 2.52 and a beta of 0.61. China Mobile has a fifty-two week low of $43.25 and a fifty-two week high of $55.84.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHL. OLD Second National Bank of Aurora purchased a new position in shares of China Mobile during the 1st quarter worth $25,000. Financial Gravity Wealth Inc. purchased a new position in shares of China Mobile in the 1st quarter worth $28,000. Pinnacle Bank raised its position in shares of China Mobile by 106.5% in the 2nd quarter. Pinnacle Bank now owns 568 shares of the Wireless communications provider’s stock worth $26,000 after buying an additional 293 shares during the period. Sontag Advisory LLC purchased a new position in shares of China Mobile in the 4th quarter worth $28,000. Finally, Nkcfo LLC purchased a new position in shares of China Mobile in the 1st quarter worth $31,000. Institutional investors and hedge funds own 2.10% 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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