HSBC (LON:HSBA) Sets New 1-Year High – Time to Buy?

Shares of HSBC Holdings plc (LON:HSBA) reached a new 52-week high during trading on Thursday . The company traded as high as GBX 1,322.60 and last traded at GBX 1,322, with a volume of 283299906 shares traded. The stock had previously closed at GBX 1,305.40.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HSBA. Royal Bank Of Canada raised their price target on shares of HSBC from GBX 950 to GBX 1,050 and gave the company a “sector perform” rating in a research note on Thursday, October 30th. Shore Capital Group restated a “hold” rating and issued a GBX 1,070 target price on shares of HSBC in a research report on Friday, January 9th. Citigroup boosted their price target on HSBC from GBX 1,240 to GBX 1,320 and gave the stock a “buy” rating in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft increased their price objective on HSBC from GBX 1,050 to GBX 1,200 and gave the company a “hold” rating in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of HSBC from GBX 1,060 to GBX 1,190 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of GBX 1,144.17.

HSBC Stock Performance

The firm has a market cap of £225.11 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The company has a 50 day moving average price of GBX 1,201.24 and a 200 day moving average price of GBX 1,076.71.

About HSBC