Mobile TeleSystems OJSC (MBT) Lifted to “Hold” at Zacks Investment Research

Mobile TeleSystems OJSC (NYSE:MBT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “MOBILE TELE-ADR mission is to build a integrated mobile communications world, which will bring people together, enrich their lives and open up new horizons, both at work and at home. They will do this by Anticipating on and understanding of our customers’ needs, employing experienced, qualified and highly motivated personnel, introducing new technologies, and enhancing our company’s development. “

Several other equities analysts also recently commented on MBT. Bank of America upgraded Mobile TeleSystems OJSC from a “neutral” rating to a “buy” rating in a research report on Wednesday. Deutsche Bank assumed coverage on Mobile TeleSystems OJSC in a research report on Tuesday, September 12th. They issued a “buy” rating and a $12.50 price objective on the stock. Finally, TheStreet upgraded Mobile TeleSystems OJSC from a “c” rating to a “b-” rating in a research report on Friday, November 17th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Mobile TeleSystems OJSC has an average rating of “Buy” and an average target price of $10.85.

Mobile TeleSystems OJSC (NYSE MBT) traded down $0.12 during midday trading on Friday, reaching $10.50. The company had a trading volume of 2,927,200 shares, compared to its average volume of 2,639,175. The stock has a market capitalization of $9,760.00, a P/E ratio of 10.00, a PEG ratio of 0.92 and a beta of 0.94. The company has a quick ratio of 0.86, a current ratio of 0.93 and a debt-to-equity ratio of 1.89. Mobile TeleSystems OJSC has a 12 month low of $7.76 and a 12 month high of $11.59.

Hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp increased its stake in Mobile TeleSystems OJSC by 1.3% during the third quarter. Van ECK Associates Corp now owns 9,015,813 shares of the Wireless communications provider’s stock worth $94,125,000 after acquiring an additional 114,812 shares during the last quarter. Prudential PLC increased its stake in Mobile TeleSystems OJSC by 391.8% during the second quarter. Prudential PLC now owns 863,968 shares of the Wireless communications provider’s stock worth $7,240,000 after acquiring an additional 688,300 shares during the last quarter. Vanguard Group Inc. increased its stake in Mobile TeleSystems OJSC by 5.8% during the second quarter. Vanguard Group Inc. now owns 16,872,024 shares of the Wireless communications provider’s stock worth $141,388,000 after acquiring an additional 918,218 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Mobile TeleSystems OJSC by 3.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 446,178 shares of the Wireless communications provider’s stock worth $4,658,000 after acquiring an additional 14,900 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Mobile TeleSystems OJSC by 19.7% during the third quarter. JPMorgan Chase & Co. now owns 9,438,681 shares of the Wireless communications provider’s stock worth $99,861,000 after acquiring an additional 1,554,205 shares during the last quarter. 32.06% of the stock is currently owned by institutional investors.

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Mobile TeleSystems OJSC Company Profile

Mobil’nye Telesistemy PAO is a Russia-based provider of telecommunications services. The Company provides mobile and fixed-line voice and data telecommunications services, including data transfer, broadband, pay-television (pay-TV) and various value-added services, as well as selling equipment and accessories.

Analyst Recommendations for Mobile TeleSystems OJSC (NYSE:MBT)

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