HSBC (LON:HSBA) Upgraded by Shore Capital Group to "Sell" Rating

Key Points

• Shore Capital Group upgraded HSBC to a "sell" rating in a report issued Tuesday, making it one of the few analysts to assign a sell while most others rate the stock hold or buy.
• MarketBeat shows a consensus rating of Hold with a target price of GBX 1,219.86, and several banks recently raised price targets (Citigroup to GBX 1,320; JPMorgan to GBX 1,360; Deutsche Bank to GBX 1,200).
• Insider activity was notable: Georges Elhedery bought 842,628 shares at GBX 1,282 (~£10.8m) and Pam Kaur sold 81,967 shares; insiders now own 0.14% and have sold 242,798 shares valued at $308.4m in the past 90 days.

HSBC (LON:HSBA - Get Free Report) was upgraded by analysts at Shore Capital Group to a "sell" rating in a report issued on Tuesday,Digital Look reports.

A number of other equities analysts have also weighed in on the stock. Citigroup boosted their price objective on shares of HSBC from GBX 1,240 to GBX 1,320 and gave the company a "buy" rating in a research report on Friday, January 9th. JPMorgan Chase & Co. boosted their price objective on shares of HSBC from GBX 1,190 to GBX 1,360 and gave the company a "neutral" rating in a research report on Tuesday, March 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of HSBC from GBX 1,050 to GBX 1,200 and gave the company a "hold" rating in a research report on Friday, January 23rd. Finally, Jefferies Financial Group reissued a "hold" rating and issued a GBX 1,120 price objective on shares of HSBC in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of GBX 1,219.86.

HSBC Price Performance

Shares of LON HSBA opened at GBX 1,278.60 on Tuesday. HSBC has a 12-month low of GBX 833.40 and a 12-month high of GBX 1,410.60. The company has a market capitalization of £219.26 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 5.97 and a beta of 0.56. The firm's 50-day moving average is GBX 1,280.43 and its two-hundred day moving average is GBX 1,193.77.

Insider Activity at HSBC

In related news, insider Georges Elhedery purchased 842,628 shares of the company's stock in a transaction that occurred on Monday, March 9th. The stock was purchased at an average price of GBX 1,282 per share, with a total value of £10,802,490.96. Also, insider Pam Kaur sold 81,967 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of GBX 1,280, for a total transaction of £1,049,177.60. Insiders have sold 242,798 shares of company stock valued at $308,402,488 in the last ninety days. 0.14% of the stock is currently owned by company insiders.

About HSBC

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