HSBC (LON:HSBA) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

HSBC Holdings plc (LON:HSBA) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,114.27 and traded as high as GBX 1,291.60. HSBC shares last traded at GBX 1,287.10, with a volume of 24,885,680 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on HSBC from GBX 1,060 to GBX 1,190 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Citigroup raised their price objective on shares of 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 boosted their target price on shares of HSBC from GBX 1,050 to GBX 1,200 and gave the company a “hold” rating in a report on Friday, January 23rd. Finally, Shore Capital Group restated a “hold” rating and set a GBX 1,070 price target on shares of HSBC in a report on Friday, January 9th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of GBX 1,144.17.

HSBC Stock Down 2.6%

The company’s 50-day moving average price is GBX 1,256.74 and its 200-day moving average price is GBX 1,115.42. The firm has a market cap of £213.71 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 5.97 and a beta of 0.47.

About HSBC