HSBC (LON:HSBA) Sets New 12-Month High Following Analyst Upgrade

HSBC Holdings plc (LON:HSBA) shares hit a new 52-week high during 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 research firms have also recently issued reports on HSBA. HSBC reiterated a “hold” rating and issued a GBX 1,450 target price on shares of HSBC in a research note on Wednesday, May 6th. Jefferies Financial Group reissued a “hold” rating and set a GBX 1,120 target price on shares of HSBC in a research report on Tuesday, May 5th. UBS Group reaffirmed a “neutral” rating and issued a GBX 1,419 price target on shares of HSBC in a research report on Tuesday, May 5th. Shore Capital Group raised shares of HSBC to a “hold” rating and upped their price objective for the company from GBX 1,210 to GBX 1,250 in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada raised their target price on 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. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, HSBC has a consensus rating of “Hold” and an average price target of GBX 1,301.75.

Insider Transactions at HSBC

In other news, insider Pam Kaur purchased 2,345 shares of HSBC stock in a transaction on Friday, May 22nd. The shares were purchased 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 corporate insiders.

HSBC Stock Performance

The firm has a market capitalization of £256.09 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 5.97 and a beta of 0.56. The stock has a 50-day moving average of GBX 1,403.95 and a 200 day moving average of GBX 1,316.47.

HSBC Company Profile