The Mobile TeleSystems OJSC (MBT) Upgraded by Zacks Investment Research to “Strong-Buy”

The Mobile TeleSystems OJSC (MBT) Upgraded by Zacks Investment Research to “Strong-Buy”

Zacks Investment Research upgraded shares of Mobile TeleSystems OJSC (NYSE:MBT) from a sell rating to a strong-buy rating in a report published on Wednesday morning. Zacks Investment Research currently has $12.00 target price on the Wireless communications provider’s stock.

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. “

Other equities analysts have also issued reports about the company. ValuEngine upgraded Mobile TeleSystems OJSC from a buy rating to a strong-buy rating in a research report on Friday, September 1st. BidaskClub upgraded Mobile TeleSystems OJSC from a hold rating to a buy rating in a research report on Tuesday, August 22nd. Deutsche Bank AG began coverage on Mobile TeleSystems OJSC in a research report on Tuesday, September 12th. They set a buy rating and a $12.50 price objective on the stock. Finally, J P Morgan Chase & Co upgraded Mobile TeleSystems OJSC from a neutral rating to an overweight rating and set a $10.50 price objective on the stock in a research report on Wednesday, July 26th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $11.23.

Shares of Mobile TeleSystems OJSC (NYSE MBT) traded down 0.95% during mid-day trading on Wednesday, hitting $10.46. The stock had a trading volume of 1,123,218 shares. The firm has a 50 day moving average price of $10.56 and a 200-day moving average price of $9.52. The stock has a market cap of $10.23 billion, a P/E ratio of 6.09 and a beta of 0.94. Mobile TeleSystems OJSC has a 12 month low of $7.09 and a 12 month high of $11.59.

Mobile TeleSystems OJSC (NYSE:MBT) last announced its quarterly earnings data on Monday, August 28th. The Wireless communications provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $1.87 billion for the quarter. Mobile TeleSystems OJSC had a return on equity of 40.25% and a net margin of 12.42%. On average, equities research analysts forecast that Mobile TeleSystems OJSC will post $0.97 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Tudor Investment Corp ET AL purchased a new stake in Mobile TeleSystems OJSC during the 2nd quarter valued at about $103,000. Sciencast Management LP purchased a new stake in Mobile TeleSystems OJSC during the 2nd quarter valued at about $103,000. Greenleaf Trust purchased a new stake in Mobile TeleSystems OJSC during the 2nd quarter valued at about $115,000. Lapides Asset Management LLC boosted its holdings in Mobile TeleSystems OJSC by 25.7% during the 2nd quarter. Lapides Asset Management LLC now owns 14,200 shares of the Wireless communications provider’s stock valued at $119,000 after acquiring an additional 2,900 shares during the period. Finally, M&T Bank Corp boosted its holdings in Mobile TeleSystems OJSC by 23.5% during the 2nd quarter. M&T Bank Corp now owns 14,978 shares of the Wireless communications provider’s stock valued at $126,000 after acquiring an additional 2,852 shares during the period. Institutional investors own 32.13% of the company’s stock.

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.

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