Citigroup Issues Positive Forecast for HSBC (LON:HSBA) Stock Price

HSBC (LON:HSBA) had its price objective boosted by research analysts at Citigroup from GBX 1,240 to GBX 1,320 in a research note issued to investors on Friday,Digital Look reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price objective points to a potential upside of 10.72% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Shore Capital reaffirmed a “hold” rating and set a GBX 1,070 price objective on shares of HSBC in a report on Friday. Royal Bank Of Canada upped their price objective on shares of HSBC from GBX 950 to GBX 1,050 and gave the stock a “sector perform” rating in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of HSBC from GBX 1,010 to GBX 1,060 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 1,074.17.

HSBC Price Performance

Shares of HSBA stock traded down GBX 3.20 during trading hours on Friday, reaching GBX 1,192.20. The company had a trading volume of 8,503,910 shares, compared to its average volume of 15,281,949. The company has a market cap of £204.65 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. HSBC has a 12 month low of GBX 698.70 and a 12 month high of GBX 1,227.20. The business has a fifty day simple moving average of GBX 1,112.68 and a 200-day simple moving average of GBX 1,017.13.

HSBC Company Profile