HSBC (LON:HSBA) Reaches New 52-Week High - What's Next?

Key Points

• HSBC Holdings plc shares reached a new 52-week high at GBX 980.22 ($13.17), with significant trading volume of over 267 million shares.
• Analysts provide mixed ratings, with two analysts rating the stock as Buy and four as Hold, while the average target price is GBX 969.17.
• HSBC has a market capitalization of £170.14 billion and is one of the largest banking organizations globally, serving around 39 million customers.

Shares of HSBC Holdings plc (LON:HSBA - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as GBX 980.22 ($13.17) and last traded at GBX 979.10 ($13.15), with a volume of 267542313 shares trading hands. The stock had previously closed at GBX 961.40 ($12.92).

Wall Street Analysts Forecast Growth

HSBA has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a GBX 910 price objective on shares of HSBC in a research note on Thursday, July 31st. JPMorgan Chase & Co. increased their price target on shares of HSBC from GBX 830 to GBX 870 and gave the company a "neutral" rating in a research report on Monday, August 4th. Shore Capital reissued a "hold" rating and issued a GBX 980 price target on shares of HSBC in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada upped their price objective on shares of HSBC from GBX 900 to GBX 950 and gave the company a "sector perform" rating in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of GBX 969.17.

HSBC Price Performance

The company has a market cap of £170.14 billion, a PE ratio of 967.52, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The business has a 50 day moving average of GBX 933.68 and a 200 day moving average of GBX 882.78.

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.

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