HSBC (LON:HSBA) Price Target Raised to GBX 1,640

HSBC (LON:HSBA) had its target price upped by investment analysts at Citigroup from GBX 1,570 to GBX 1,640 in a research note issued to investors on Wednesday, Digital Look reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s target price would indicate a potential upside of 7.65% from the stock’s current price.

Several other equities analysts have also commented on the company. Royal Bank Of Canada upped their target price on HSBC from GBX 1,275 to GBX 1,375 and gave the company a “sector perform” rating in a report on Friday, August 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 1,520 price target on shares of HSBC in a report on Wednesday, August 5th. Jefferies Financial Group restated a “hold” rating and set a GBX 1,120 price objective on shares of HSBC in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. upped their price objective on HSBC from GBX 1,380 to GBX 1,450 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Eight equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of GBX 1,403.

HSBC Stock Up 0.9%

HSBA opened at GBX 1,523.40 on Wednesday. The firm has a market cap of £260.97 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 5.97 and a beta of 0.58. HSBC has a fifty-two week low of GBX 959.29 and a fifty-two week high of GBX 1,610. The company’s 50-day moving average price is GBX 1,531.42 and its 200 day moving average price is GBX 1,405.16.

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