UPDATE: JP Morgan Upgrades Mobile TeleSystems to Neutral on Strong Expectations for Q4, FCF Outlook

JP Morgan upgraded Mobile TeleSystems (NYSE: MBT ) from Underweight to Neutral and raises the price target from $20.50 to $25.00. JP Morgan analyst Alexei Gogolev noted, "We increase our end-13 PT on MTS to $25/ADR on a 15-20% increase to FCF projections for 2013-15E and upgrade rating to Neutral.