BOC Hong Kong (OTCMKTS:BHKLY) Shares Gap Up - Still a Buy?

Key Points

• BOC Hong Kong shares gapped up before the market, opening at $115.8902 versus the prior close of $109.5894 and last trading at $115.8902 on light volume (768 shares).
• The Goldman Sachs Group upgraded the stock from "neutral" to "buy", and MarketBeat currently shows a consensus rating of "Buy".
• Technically the stock is up about 0.6% and is trading above its 50‑day ($109.94) and 200‑day ($104.00) simple moving averages.

BOC Hong Kong Ltd. (OTCMKTS:BHKLY - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $109.5894, but opened at $115.8902. BOC Hong Kong shares last traded at $115.8902, with a volume of 768 shares trading hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised shares of BOC Hong Kong from a "neutral" rating to a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy".

BOC Hong Kong Stock Up 0.6%

The firm's fifty day simple moving average is $109.94 and its two-hundred day simple moving average is $104.00.

BOC Hong Kong Company Profile

BOC Hong Kong OTCMKTS: BHKLY is a Hong Kong-based banking group that operates as the Hong Kong subsidiary of Bank of China. The group is a licensed bank and one of the territory's note-issuing banks, participating in the issuance of Hong Kong dollar banknotes. It provides a broad range of banking and financial services to retail, corporate and institutional clients, positioning itself as a major participant in Hong Kong's financial services sector.

BOC Hong Kong's businesses include retail banking services such as deposit accounts, mortgages, personal loans and credit cards, together with wealth management and private banking solutions.

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