HSBC (LON:HSBA) Price Target Raised to GBX 1,370

Key Points

• JPMorgan raised its price target on HSBC to GBX 1,370 (from GBX 1,360) while maintaining a "neutral" rating, implying roughly a 3.96% upside.
• Market consensus remains a "Hold" with a consensus price target of GBX 1,272.38; HSBC opened at GBX 1,317.80 (down 1.3%) and has a market cap of £225.98 billion.
• Insider activity was notable: Georges Elhedery bought 842,628 shares (~£10.8m) while insiders sold 242,798 shares worth $308.4m in the last three months, and insiders own 0.14% of the stock.

HSBC (LON:HSBA - Get Free Report) had its price objective increased by equities researchers at JPMorgan Chase & Co. from GBX 1,360 to GBX 1,370 in a note issued to investors on Friday,London Stock Exchange reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 3.96% from the company's current price.

A number of other research firms have also recently issued reports on HSBA. Deutsche Bank Aktiengesellschaft increased their price objective on shares of HSBC from GBX 1,050 to GBX 1,200 and gave the stock a "hold" rating in a research report on Friday, January 23rd. UBS Group reissued a "neutral" rating and set a GBX 1,419 price objective on shares of HSBC in a research report on Tuesday. Jefferies Financial Group restated a "hold" rating and issued a GBX 1,120 target price on shares of HSBC in a report on Tuesday. HSBC restated a "hold" rating and issued a GBX 1,450 target price on shares of HSBC in a report on Wednesday. Finally, Shore Capital Group upgraded shares of HSBC to a "hold" rating and upped their target price for the stock from GBX 1,210 to GBX 1,250 in a report on Thursday. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of GBX 1,272.38.

HSBC Stock Down 1.3%

LON HSBA opened at GBX 1,317.80 on Friday. The company has a market capitalization of £225.98 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 5.97 and a beta of 0.57. HSBC has a twelve month low of GBX 846.70 and a twelve month high of GBX 1,410.60. The stock has a fifty day simple moving average of GBX 1,281.78 and a 200 day simple moving average of GBX 1,200.83.

Insider Activity at HSBC

In other news, insider Pam Kaur sold 81,967 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of GBX 1,280, for a total transaction of £1,049,177.60. Also, insider Georges Elhedery purchased 842,628 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were bought at an average price of GBX 1,282 per share, with a total value of £10,802,490.96. In the last three months, insiders have sold 242,798 shares of company stock worth $308,402,488. Insiders own 0.14% of the company's stock.

HSBC Company Profile

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