Royal Bank Of Canada Boosts HSBC (LON:HSBA) Price Target to GBX 1,375

HSBC (LON:HSBA) had its target price raised by Royal Bank Of Canada from GBX 1,275 to GBX 1,375 in a report released on Friday,London Stock Exchange reports. The brokerage presently has a “sector perform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target would suggest a potential downside of 10.67% from the stock’s previous close.

Several other analysts have also commented on HSBA. JPMorgan Chase & Co. raised their target price on HSBC from GBX 1,380 to GBX 1,450 and gave the stock a “neutral” rating in a report on Friday, August 7th. Shore Capital Group raised HSBC to a “hold” rating and boosted their price target for the company from GBX 1,210 to GBX 1,250 in a report on Thursday, May 7th. Jefferies Financial Group restated a “hold” rating and issued a GBX 1,120 price objective on shares of HSBC in a research report on Tuesday, August 4th. Citigroup dropped their price objective on shares of HSBC from GBX 1,640 to GBX 1,570 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Finally, UBS Group reiterated a “neutral” rating and issued a GBX 1,419 target price on shares of HSBC in a research note on Tuesday, May 5th. Eight analysts have rated the stock with a Hold rating, According to MarketBeat, HSBC has a consensus rating of “Hold” and an average target price of GBX 1,394.25.

HSBC Stock Performance

LON HSBA opened at GBX 1,539.20 on Friday. The stock has a 50-day simple moving average of GBX 1,471.53 and a two-hundred day simple moving average of GBX 1,360.42. The firm has a market capitalization of £263.95 billion, a P/E ratio of 12.72, a PEG ratio of 5.97 and a beta of 0.58. HSBC has a fifty-two week low of GBX 928.10 and a fifty-two week high of GBX 1,610.

Insider Buying and Selling at HSBC

In other HSBC news, insider Pam Kaur purchased 2,345 shares of the stock in a transaction on Friday, May 22nd. The shares were bought at an average price of GBX 1,340 per share, for a total transaction of £31,423. 0.14% of the stock is currently owned by corporate insiders.

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