HSBC (LON:HSBA) Given New GBX 940 Price Target at JPMorgan Chase & Co.

Key Points

• HSBC's price target has been increased by JPMorgan Chase & Co. from GBX 870 to GBX 940, although the current rating remains "neutral."
• Other analysts, including Royal Bank of Canada and Shore Capital, have also adjusted their price targets, with RBC setting it at GBX 950 and Shore Capital at GBX 980.
• HSBC shares recently traded at GBX 969.70 and have a market capitalization of approximately £167.94 billion.

HSBC (LON:HSBA - Get Free Report) had its price objective upped by stock analysts at JPMorgan Chase & Co. from GBX 870 to GBX 940 in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 6.74% from the company's previous close.

A number of other equities research analysts also recently commented on HSBA. Shore Capital reaffirmed a "hold" rating and issued a GBX 980 price objective on shares of HSBC in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a GBX 910 price objective on shares of HSBC in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada lifted their price objective on HSBC from GBX 900 to GBX 950 and gave the company a "sector perform" rating in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of GBX 980.83.

HSBC Stock Down 0.4%

Shares of LON:HSBA traded down GBX 3.82 during midday trading on Tuesday, reaching GBX 1,007.98. The company's stock had a trading volume of 13,844,833 shares, compared to its average volume of 23,928,746. The firm has a market cap of £174.57 billion, a price-to-earnings ratio of 998.00, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. HSBC has a 1 year low of GBX 647.20 and a 1 year high of GBX 1,012.06. The business has a 50 day moving average price of GBX 946.40 and a 200 day moving average price of GBX 886.77.

About HSBC

With assets of $3.0tn and operations in 62 countries and territories at 31 December 2022, HSBC is one of the largest banking and financial services organisations in the world. We serve approximately 39 million personal, wealth and corporate customers through three global businesses. We have around 180,000 shareholders in 126 countries and territories.