HSBC (LON:HSBA) Hits New 1-Year High Following Analyst Upgrade

HSBC Holdings plc (LON:HSBA) hit a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. upgraded the stock to a neutral rating. JPMorgan Chase & Co. now has a GBX 1,380 price target on the stock, up from their previous price target of GBX 1,370. HSBC traded as high as GBX 1,500 and last traded at GBX 1,493.40, with a volume of 96872328 shares traded. The stock had previously closed at GBX 1,480.80.

A number of other equities analysts also recently weighed in on the stock. Shore Capital Group raised shares of HSBC to a “hold” rating and boosted their target price for the stock from GBX 1,210 to GBX 1,250 in a research note on Thursday, May 7th. Jefferies Financial Group reissued a “hold” rating and issued a GBX 1,120 price target on shares of HSBC in a report on Tuesday, May 5th. Royal Bank Of Canada boosted their price objective on shares of HSBC from GBX 1,200 to GBX 1,275 and gave the stock a “sector perform” rating in a research report on Thursday, May 14th. UBS Group reaffirmed a “neutral” rating and set a GBX 1,419 price objective on shares of HSBC in a report on Tuesday, May 5th. Finally, HSBC reissued a “hold” rating and issued a GBX 1,450 target price on shares of HSBC in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating and seven 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 1,301.75.

Insider Buying and Selling at HSBC

In other HSBC news, insider Pam Kaur purchased 2,345 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of GBX 1,340 per share, with a total value of £31,423. 0.14% of the stock is currently owned by company insiders.

HSBC Trading Up 0.9%

The company has a market cap of £256.09 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 5.97 and a beta of 0.56. The stock has a 50 day moving average price of GBX 1,403.95 and a two-hundred day moving average price of GBX 1,316.47.

HSBC Company Profile