JPMorgan Chase & Co. Raises HSBC (LON:HSBA) Price Target to GBX 870

Key Points

• JPMorgan Chase & Co. raised the price target for HSBC from GBX 830 to GBX 870, indicating a potential downside of 5.65% from the current stock price.
• HSBC currently has a consensus rating of "Hold" from analysts, with a consensus target price of GBX 947.86.
• The company's shares opened at GBX 922.10, with a market capitalization of £205.87 billion and a 12-month high of GBX 978.79.

HSBC (LON:HSBA - Get Free Report) had its target price increased by equities research analysts at JPMorgan Chase & Co. from GBX 830 ($11.02) to GBX 870 ($11.55) in a research note issued on Monday, MarketBeat reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target would indicate a potential downside of 5.65% from the stock's current price.

A number of other brokerages also recently issued reports on HSBA. Shore Capital reissued a "hold" rating and set a GBX 980 ($13.01) price objective on shares of HSBC in a research report on Wednesday, July 30th. Royal Bank Of Canada restated a "sector perform" rating and set a GBX 900 ($11.95) target price on shares of HSBC in a report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a GBX 910 ($12.08) target price on shares of HSBC in a report on Thursday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of GBX 947.86 ($12.59).

HSBC Trading Up 0.7%

Shares of LON:HSBA opened at GBX 922.10 ($12.24) on Monday. The business has a 50-day moving average price of GBX 897.52 and a 200 day moving average price of GBX 865.39. The company has a market capitalization of £205.87 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 5.97 and a beta of 0.52. HSBC has a 12-month low of GBX 610.89 ($8.11) and a 12-month high of GBX 978.79 ($13.00).

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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