UBS Group Analysts Give HSBC (HSBA) a GBX 725 Price Target
HSBC (LON:HSBA) has been given a GBX 725 ($9.83) price target by investment analysts at UBS Group in a note issued to investors on Monday, www.boersen-zeitung.de reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price target indicates a potential downside of 8.09% from the company’s previous close.
A number of other research analysts also recently issued reports on the stock. Shore Capital reaffirmed a “sell” rating on shares of HSBC in a research report on Monday, October 30th. Jefferies Group reaffirmed a “buy” rating on shares of HSBC in a research report on Monday, December 18th. Morgan Stanley set a GBX 850 ($11.53) price objective on shares of HSBC and gave the stock a “buy” rating in a research report on Wednesday, December 13th. Credit Suisse Group downgraded shares of HSBC to an “underperform” rating and lifted their price objective for the stock from GBX 630 ($8.54) to GBX 650 ($8.81) in a research report on Tuesday, October 10th. Finally, Royal Bank of Canada set a GBX 750 ($10.17) price objective on shares of HSBC and gave the stock a “neutral” rating in a research report on Monday, December 18th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of GBX 748.33 ($10.15).
Shares of HSBC (HSBA) traded down GBX 4.20 ($0.06) during trading on Monday, hitting GBX 788.80 ($10.70). 9,360,000 shares of the stock were exchanged, compared to its average volume of 18,810,000. HSBC has a 52-week low of GBX 518.17 ($7.03) and a 52-week high of GBX 798.60 ($10.83). The stock has a market cap of $157,700.00 and a P/E ratio of 3,944.00.
In related news, insider Iain Mackay bought 16,980 shares of the company’s stock in a transaction on Monday, November 13th. The shares were bought at an average price of GBX 741 ($10.05) per share, with a total value of £125,821.80 ($170,628.97).
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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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