HSBC (LON:HSBA) Price Target Raised to GBX 950 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised HSBC's price target from GBX 900 to GBX 950, indicating a potential downside of 0.57% from the current share price.
• Other firms, such as JPMorgan Chase and Deutsche Bank, have also set target prices, suggesting a consensus rating of "Hold" for HSBC with an average price target of GBX 955.
• HSBC shares traded up to GBX 955.40 during the day, reflecting strong interest with over 31 million shares changing hands, significantly above its average volume.

HSBC (LON:HSBA - Get Free Report) had its target price lifted by investment analysts at Royal Bank Of Canada from GBX 900 to GBX 950 in a research note issued on Wednesday, Marketbeat reports. The brokerage currently has a "sector perform" rating on the financial services provider's stock. Royal Bank Of Canada's target price would suggest a potential upside of 0.56% from the stock's current price.

A number of other equities research analysts have also issued reports on HSBA. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a GBX 910 price target on shares of HSBC in a research report on Thursday, July 31st. JPMorgan Chase & Co. raised their price target on shares of HSBC from GBX 830 to GBX 870 and gave the company a "neutral" rating in a research note on Monday, August 4th. Finally, Shore Capital restated a "hold" rating and set a GBX 980 price objective on shares of HSBC in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of GBX 955.

HSBC Stock Up 0.5%

Shares of LON HSBA traded up GBX 4.80 during trading on Wednesday, hitting GBX 944.70. 13,427,732 shares of the company traded hands, compared to its average volume of 24,453,090. The firm has a market capitalization of £210.91 billion, a P/E ratio of 9.09, a P/E/G ratio of 5.97 and a beta of 0.52. The company has a 50-day moving average price of GBX 911.95 and a 200-day moving average price of GBX 874. HSBC has a 1 year low of GBX 616.03 and a 1 year high of GBX 978.79.

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.