HSBC (LON:HSBA) PT Raised to GBX 465

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HSBC (LON:HSBA) had its price target lifted by research analysts at Royal Bank of Canada from GBX 430 ($5.62) to GBX 465 ($6.08) in a note issued to investors on Tuesday, Analyst Price Targets reports. The brokerage currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 7.16% from the company’s current price.

Several other research analysts have also weighed in on the company. UBS Group set a GBX 430 ($5.62) target price on HSBC and gave the stock a “neutral” rating in a report on Monday, March 22nd. Credit Suisse Group reiterated a “neutral” rating and set a GBX 440 ($5.75) target price on shares of HSBC in a report on Tuesday, March 16th. Berenberg Bank lifted their target price on HSBC from GBX 380 ($4.96) to GBX 400 ($5.23) and gave the stock a “hold” rating in a report on Wednesday, February 24th. Jefferies Financial Group set a GBX 400 ($5.23) target price on HSBC and gave the stock a “neutral” rating in a report on Tuesday, February 23rd. Finally, JPMorgan Chase & Co. set a GBX 400 ($5.23) target price on HSBC and gave the stock a “sell” rating in a report on Thursday, March 11th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. HSBC presently has a consensus rating of “Hold” and an average price target of GBX 419.62 ($5.48).

HSBA stock opened at GBX 433.95 ($5.67) on Tuesday. The business’s 50-day moving average price is GBX 428.36 and its two-hundred day moving average price is GBX 382.59. The firm has a market cap of £88.63 billion and a PE ratio of 22.84. HSBC has a 1-year low of GBX 281.50 ($3.68) and a 1-year high of GBX 466.54 ($6.10).

In other HSBC news, insider Noel Quinn sold 18,746 shares of the company’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of GBX 425 ($5.55), for a total value of £79,670.50 ($104,090.02).

About HSBC

HSBC Holdings plc provides banking and financial products and services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking products and services, such as current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services for ultra high net worth individuals; and wealth management services, including insurance and investment products, global asset management services, investment management, and private wealth solutions.

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Analyst Recommendations for HSBC (LON:HSBA)

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