HSBC (LON:HSBA) Rating Reiterated by Goldman Sachs Group

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HSBC (LON:HSBA)‘s stock had its “buy” rating reissued by Goldman Sachs Group in a report released on Tuesday, Borsen Zeitung reports. They presently have a GBX 905 ($11.83) price target on the financial services provider’s stock, down from their prior price target of GBX 920 ($12.02). Goldman Sachs Group’s price target would suggest a potential upside of 52.82% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Barclays raised their price objective on HSBC from GBX 600 ($7.84) to GBX 610 ($7.97) and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Royal Bank of Canada set a GBX 600 ($7.84) price objective on HSBC and gave the stock a “sell” rating in a report on Monday, August 5th. Shore Capital reaffirmed a “hold” rating on shares of HSBC in a report on Monday, August 5th. Bank of America reaffirmed a “neutral” rating on shares of HSBC in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of HSBC in a report on Tuesday, July 16th. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. HSBC currently has a consensus rating of “Hold” and a consensus price target of GBX 659.27 ($8.61).

Shares of HSBA stock opened at GBX 592.20 ($7.74) on Tuesday. The business’s 50-day moving average price is GBX 654.20. The stock has a market capitalization of $120.11 billion and a price-to-earnings ratio of 8.57. HSBC has a 1 year low of GBX 596.40 ($7.79) and a 1 year high of GBX 727.90 ($9.51).

HSBC Company Profile

HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.

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Analyst Recommendations for HSBC (LON:HSBA)

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