HSBC (HSBA) Price Target Cut to GBX 750 by Analysts at JPMorgan Chase & Co.
HSBC (LON:HSBA) had its price objective cut by JPMorgan Chase & Co. from GBX 780 ($10.19) to GBX 750 ($9.80) in a research report sent to investors on Tuesday morning, MarketBeat reports. They currently have a neutral rating on the financial services provider’s stock.
Several other analysts have also recently issued reports on HSBA. Deutsche Bank set a GBX 684 ($8.94) price target on shares of HSBC and gave the company a neutral rating in a report on Friday, October 12th. UBS Group set a GBX 735 ($9.60) price target on shares of HSBC and gave the company a neutral rating in a report on Tuesday, July 3rd. Credit Suisse Group set a GBX 720 ($9.41) price target on shares of HSBC and gave the company a neutral rating in a report on Tuesday, August 7th. Royal Bank of Canada set a GBX 730 ($9.54) price target on shares of HSBC and gave the company a neutral rating in a report on Monday, August 6th. Finally, Goldman Sachs Group set a GBX 810 ($10.58) price target on shares of HSBC and gave the company a neutral rating in a report on Tuesday, July 31st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. HSBC presently has an average rating of Hold and a consensus price target of GBX 748.50 ($9.78).
LON HSBA opened at GBX 624.10 ($8.15) on Tuesday. HSBC has a 52 week low of GBX 618 ($8.08) and a 52 week high of GBX 798.60 ($10.44).
In other HSBC news, insider Iain Mackay sold 24,021 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of GBX 657 ($8.58), for a total transaction of £157,817.97 ($206,217.13).
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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