China Mobile upgraded to "buy"

01/16/08 - Davenport & Co.

NEW YORK, January 16 (newratings.com) - Analysts at Davenport & Company upgrade China Mobile Limited (CHL) to "buy." The target price is set to $101.

In a research note published yesterday, the analysts mention that the company’s share price has declined following the end of talks between China Mobile and Apple. Although there are concerns regarding the impact of the possible restructuring of China’s telecommunications industry, the company is likely to continue outperforming its wireless and wireline peers even after the potential industry-wide restructuring, the analysts say. The company is likely to launch Blackberry handsets later in the month, Davenport & Company adds.