HSBC (LON:HSBA) Hits New 12-Month High – Here’s Why

HSBC Holdings plc (LON:HSBA) reached a new 52-week high during trading on Thursday . The company traded as high as GBX 1,229.40 and last traded at GBX 1,223.40, with a volume of 341895125 shares trading hands. The stock had previously closed at GBX 1,213.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Shore Capital reaffirmed a “hold” rating and issued a GBX 1,070 target price on shares of HSBC in a research report on Friday, January 9th. Citigroup boosted their target price on HSBC from GBX 1,240 to GBX 1,320 and gave the stock a “buy” rating in a report on Friday, January 9th. Royal Bank Of Canada raised their price target on shares of HSBC from GBX 950 to GBX 1,050 and gave the company a “sector perform” rating in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of HSBC from GBX 1,010 to GBX 1,060 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of GBX 1,074.17.

HSBC Stock Up 1.6%

The business’s 50 day moving average price is GBX 1,123.34 and its 200-day moving average price is GBX 1,027.18. The company has a market cap of £211.62 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52.

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