Analysts Set China Mobile Ltd. (NYSE:CHL) Price Target at $39.00

Shares of China Mobile Ltd. (NYSE:CHL) have received an average rating of “Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $39.00.

CHL has been the topic of several analyst reports. New Street Research upgraded China Mobile from a “reduce” rating to a “buy” rating in a research note on Thursday, March 19th. JPMorgan Chase & Co. upgraded China Mobile to a “buy” rating in a research note on Friday, March 20th. Zacks Investment Research upgraded China Mobile from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Thursday, May 28th. Finally, ValuEngine downgraded China Mobile from a “hold” rating to a “sell” rating in a research note on Thursday, April 30th.

Shares of NYSE CHL traded down $1.14 during midday trading on Friday, hitting $34.05. 1,438,616 shares of the company’s stock were exchanged, compared to its average volume of 1,105,230. The firm’s fifty day simple moving average is $35.73 and its 200-day simple moving average is $38.98. China Mobile has a twelve month low of $30.12 and a twelve month high of $46.03. The company has a market cap of $144.11 billion, a PE ratio of 9.15, a P/E/G ratio of 2.85 and a beta of 0.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.15 and a quick ratio of 1.13.

A number of institutional investors and hedge funds have recently modified their holdings of CHL. FMR LLC boosted its holdings in China Mobile by 0.8% in the first quarter. FMR LLC now owns 144,178 shares of the Wireless communications provider’s stock valued at $7,351,000 after purchasing an additional 1,110 shares during the last quarter. State Street Corp raised its stake in China Mobile by 476.5% during the fourth quarter. State Street Corp now owns 73,594 shares of the Wireless communications provider’s stock valued at $3,111,000 after buying an additional 60,829 shares in the last quarter. Banco Santander S.A. acquired a new stake in China Mobile during the fourth quarter valued at approximately $1,200,000. Private Advisor Group LLC raised its position in shares of China Mobile by 497.9% during the 4th quarter. Private Advisor Group LLC now owns 86,027 shares of the Wireless communications provider’s stock worth $3,636,000 after purchasing an additional 71,638 shares during the period. Finally, Thornburg Investment Management Inc. raised its position in shares of China Mobile by 33.1% during the 4th quarter. Thornburg Investment Management Inc. now owns 193,708 shares of the Wireless communications provider’s stock worth $8,188,000 after purchasing an additional 48,130 shares during the period. 2.19% of the stock is owned by hedge funds and other institutional investors.

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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