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

Key Points

• HSBC Holdings plc's stock reached a new 52-week high of GBX 1,031.80 ($13.95) during trading, closing slightly lower at GBX 1,031.60 ($13.94) with a trading volume of over 15.5 million shares.
• Analysts have mixed views on HSBC, with two analysts rating it as a "Buy", while four have issued a "Hold" rating, resulting in an average target price of GBX 980.83.
• HSBC is one of the world’s largest banking organizations, boasting assets of $3.0 trillion and serving approximately 39 million customers across 62 countries.

HSBC Holdings plc (LON:HSBA - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as GBX 1,031.80 ($13.95) and last traded at GBX 1,031.60 ($13.94), with a volume of 15550647 shares. The stock had previously closed at GBX 1,027.80 ($13.89).

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Shore Capital reissued a "hold" rating and issued a GBX 980 price objective on shares of HSBC in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of HSBC from GBX 870 to GBX 940 and gave the stock a "neutral" rating in a research note on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a GBX 910 price target on shares of HSBC in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada lifted their price target on shares of HSBC from GBX 900 to GBX 950 and gave the stock a "sector perform" rating in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of GBX 980.83.

HSBC Stock Performance

The company has a market cap of £180.01 billion, a P/E ratio of 1,029.11, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The business's fifty day moving average is GBX 959.47 and its two-hundred day moving average is GBX 891.

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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