HSBC (LON:HSBA) Sets New 52-Week High - Time to Buy?

Key Points

• HSBC's share price has reached a new **52-week high** of GBX 999 ($13.52) amidst strong trading volume of over 26 million shares.
• Various research analysts have set new price targets for HSBC, with consensus ratings leaning towards **"Hold"** and a target price of GBX 980.83.
• HSBC operates in **62 countries** with total assets of **$3.0 trillion**, establishing it as one of the largest banking organizations globally.

HSBC Holdings plc (LON:HSBA - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as GBX 999 ($13.52) and last traded at GBX 996.80 ($13.49), with a volume of 26205291 shares changing hands. The stock had previously closed at GBX 979 ($13.25).

Analysts Set New Price Targets

A number of research analysts have weighed in on HSBA shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a GBX 910 price objective on shares of HSBC in a research note on Thursday, July 31st. JPMorgan Chase & Co. raised their price target on shares of HSBC from GBX 870 to GBX 940 and gave the company a "neutral" rating in a research report on Tuesday. Shore Capital reissued a "hold" rating and set a GBX 980 price target on shares of HSBC in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada raised their price target 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. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of GBX 980.83.

HSBC Price Performance

The business's fifty day moving average is GBX 941.40 and its 200-day moving average is GBX 885.19. The firm has a market cap of £173.53 billion, a PE ratio of 992.08, a P/E/G ratio of 5.97 and a beta of 0.52.

HSBC Company Profile

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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