Royal Bank Of Canada Forecasts Strong Price Appreciation for HSBC (LON:HSBA) Stock

HSBC (LON:HSBA) had its price target lifted by Royal Bank Of Canada from GBX 1,200 to GBX 1,275 in a research report issued to clients and investors on Thursday,Digital Look reports. The firm currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target points to a potential downside of 3.46% from the stock’s current price.

A number of other brokerages also recently issued reports on HSBA. HSBC reiterated a “hold” rating and issued a GBX 1,450 price objective on shares of HSBC in a research report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price objective on HSBC from GBX 1,360 to GBX 1,370 and gave the stock a “neutral” rating in a report on Friday, May 8th. UBS Group restated a “neutral” rating and issued a GBX 1,419 price objective on shares of HSBC in a research report on Tuesday, May 5th. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 1,120 target price on shares of HSBC in a research note on Tuesday, May 5th. Finally, Shore Capital Group upgraded shares of HSBC to a “hold” rating and lifted their target price for the company from GBX 1,210 to GBX 1,250 in a research report on Thursday, May 7th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of GBX 1,300.50.

HSBC Stock Down 2.2%

Shares of HSBA stock opened at GBX 1,320.75 on Thursday. The stock’s fifty day simple moving average is GBX 1,280.41 and its 200 day simple moving average is GBX 1,213.56. The firm has a market capitalization of £226.49 billion, a P/E ratio of 11.01, a P/E/G ratio of 5.97 and a beta of 0.57. HSBC has a twelve month low of GBX 847 and a twelve month high of GBX 1,410.60.

Insider Transactions at HSBC

In other HSBC news, insider Pam Kaur sold 81,967 shares of HSBC stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of GBX 1,280, for a total transaction of £1,049,177.60. Also, insider Georges Elhedery sold 94,749 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of GBX 1,280, for a total value of £1,212,787.20. Insiders have sold a total of 242,798 shares of company stock worth $308,402,488 in the last ninety days. Insiders own 0.14% of the company’s stock.

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