HSBC (LON:HSBA) had its price objective cut by research analysts at Morgan Stanley from GBX 850 ($11.74) to GBX 820 ($11.33) in a note issued to investors on Wednesday. The firm currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 11.26% from the company’s current price.
A number of other equities analysts have also recently weighed in on HSBA. JPMorgan Chase & Co. reissued a “neutral” rating and issued a GBX 690 ($9.53) price objective on shares of HSBC in a research report on Tuesday, October 24th. Deutsche Bank reissued a “hold” rating and issued a GBX 737 ($10.18) price objective on shares of HSBC in a research report on Tuesday, October 24th. Goldman Sachs Group set a GBX 845 ($11.67) price objective on shares of HSBC and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Jefferies Group reissued a “buy” rating and issued a GBX 920 ($12.71) price objective on shares of HSBC in a research report on Monday, October 30th. Finally, Shore Capital reissued a “sell” rating on shares of HSBC in a research report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of GBX 754.53 ($10.42).
HSBC (HSBA) opened at GBX 737 ($10.18) on Wednesday. The firm has a market cap of $147,460.00 and a PE ratio of 2,105.71. HSBC has a 12-month low of GBX 518.17 ($7.16) and a 12-month high of GBX 798.60 ($11.03).
In related news, insider Laura May Lung Cha bought 8,000 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were acquired at an average price of GBX 6,210 ($85.80) per share, for a total transaction of £496,800 ($686,377.45).
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HSBC Company Profile
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.
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