HSBC (LON:HSBA) Price Target Raised to GBX 1,160 at Citigroup

Key Points

• Citi raised HSBC's price target from GBX 1,120 to GBX 1,160, maintaining a "buy" rating, indicating a potential upside of 17.42% from the previous close.
• Other analysts have varying ratings, with JPMorgan raising their target to GBX 950 and sentiment skewed towards "hold" from multiple firms.
• HSBC's stock currently has a market capitalization of £170.35 billion and a consensus target price of GBX 997.50 among analysts.

HSBC (LON:HSBA - Get Free Report) had its price objective boosted by investment analysts at Citigroup from GBX 1,120 to GBX 1,160 in a report issued on Tuesday,Digital Look reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Citigroup's target price indicates a potential upside of 17.42% from the company's previous close.

A number of other equities research analysts have also recently commented on HSBA. JPMorgan Chase & Co. increased their target price on shares of HSBC from GBX 940 to GBX 950 and gave the company a "neutral" rating in a research report on Monday. Shore Capital reiterated a "hold" rating on shares of HSBC in a research report on Thursday, October 9th. Royal Bank Of Canada increased their target price on shares of HSBC from GBX 900 to GBX 950 and gave the company a "sector perform" rating in a research report on Wednesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a GBX 910 target price on shares of HSBC in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of GBX 997.50.

HSBC Stock Performance

LON:HSBA opened at GBX 987.90 on Tuesday. The company has a fifty day moving average of GBX 993.16 and a two-hundred day moving average of GBX 912.48. The stock has a market capitalization of £170.35 billion, a PE ratio of 9.78, a P/E/G ratio of 5.97 and a beta of 0.52. HSBC has a fifty-two week low of GBX 671.87 and a fifty-two week high of GBX 1,067.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.