Royal Bank Of Canada Forecasts Strong Price Appreciation for HSBC (LON:HSBA) Stock

HSBC (LON:HSBA) had its price objective raised by research analysts at Royal Bank Of Canada from GBX 1,275 to GBX 1,375 in a note issued to investors on Friday,London Stock Exchange reports. The firm currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target points to a potential downside of 10.67% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. HSBC reissued a “hold” rating and set a GBX 1,450 target price on shares of HSBC in a research note on Wednesday, May 6th. Citigroup lowered their price objective on HSBC from GBX 1,640 to GBX 1,570 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Jefferies Financial Group reiterated a “hold” rating and set a GBX 1,120 price objective on shares of HSBC in a research note on Tuesday, August 4th. UBS Group reissued a “neutral” rating and set a GBX 1,419 target price on shares of HSBC in a report on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 1,520 target price on shares of HSBC in a research report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of GBX 1,394.25.

HSBC Stock Up 1.1%

HSBA opened at GBX 1,539.20 on Friday. The company has a market cap of £263.95 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 5.97 and a beta of 0.58. HSBC has a 52-week low of GBX 928.10 and a 52-week high of GBX 1,610. The firm’s fifty day simple moving average is GBX 1,471.53 and its two-hundred day simple moving average is GBX 1,360.42.

Insider Activity at HSBC

In other HSBC news, insider Pam Kaur bought 2,345 shares of HSBC stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of GBX 1,340 per share, for a total transaction of £31,423. 0.14% of the stock is owned by company insiders.

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