JPMorgan Chase & Co. Upgrades HSBC (LON:HSBA) to "Neutral"

Key Points

• JPMorgan Chase & Co. upgraded HSBC to "neutral" and slightly raised its price target to GBX 1,380, which still implies about 7.62% downside from the previous close.
• Other analysts remain cautious on HSBC overall, with most ratings at Hold; MarketBeat shows an average target of GBX 1,301.75.
• HSBC shares were trading up 0.9% at GBX 1,493.80, near their 52-week high of GBX 1,499, while insider Pam Kaur recently bought 2,345 shares.

HSBC (LON:HSBA - Get Free Report) was upgraded by analysts at JPMorgan Chase & Co. to a "neutral" rating in a research note issued on Tuesday,Digital Look reports. The brokerage presently has a GBX 1,380 price objective on the financial services provider's stock, up from their previous price objective of GBX 1,370. JPMorgan Chase & Co.'s price objective would suggest a potential downside of 7.62% from the company's previous close.

A number of other research analysts have also commented on HSBA. UBS Group reiterated a "neutral" rating and set a GBX 1,419 price objective on shares of HSBC in a research note on Tuesday, May 5th. HSBC reaffirmed a "hold" rating and set a GBX 1,450 price target on shares of HSBC in a research note on Wednesday, May 6th. Jefferies Financial Group reiterated a "hold" rating and set a GBX 1,120 price target on shares of HSBC in a research report on Tuesday, May 5th. Shore Capital Group raised HSBC to a "hold" rating and boosted their price objective for the stock from GBX 1,210 to GBX 1,250 in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada upped their price objective on HSBC from GBX 1,200 to GBX 1,275 and gave the company a "sector perform" rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, HSBC presently has an average rating of "Hold" and an average price target of GBX 1,301.75.

HSBC Trading Up 0.9%

HSBA stock opened at GBX 1,493.80 on Tuesday. The firm's 50-day moving average is GBX 1,403.95 and its two-hundred day moving average is GBX 1,316.47. The company has a market capitalization of £256.16 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 5.97 and a beta of 0.56. HSBC has a 52 week low of GBX 908.97 and a 52 week high of GBX 1,499.

Insiders Place Their Bets

In other HSBC news, insider Pam Kaur bought 2,345 shares of HSBC stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of GBX 1,340 per share, for a total transaction of £31,423. Insiders own 0.14% of the company's stock.

HSBC Company Profile

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.