Morgan Stanley upgrades China Mobile to overweightKPLCtv writes…Morgan Stanley has upgraded its stock rating on China Mobile (0941.HK), the world’s top wireless carrier, to overweight from equal-weight on a high earnings outlook.
“We have raised up our fiscal year 2008 earnings forecast by 12 percent to reflect a lower tax rate and further delayed competitive entry,” it said in a research report.
The investment bank also raise its price target for China Mobile to HK$85.00 from HK$70.00.
China Mobile’s shares were trading down 1.9 percent at HK$74.05 on Thursday morning.
