HSBC (LON:HSBA) Rating Reiterated by Berenberg Bank

HSBC (LON:HSBA – Get Rating)‘s stock had its “hold” rating restated by Berenberg Bank in a report issued on Tuesday, MarketBeat.com reports. They presently have a GBX 560 ($7.14) price target on the financial services provider’s stock. Berenberg Bank’s target price indicates a potential upside of 15.03% from the company’s current price.

A number of other analysts have also recently commented on HSBA. UBS Group set a GBX 610 ($7.77) price target on HSBC in a research report on Tuesday. Deutsche Bank Rese… set a GBX 500 ($6.37) price target on HSBC in a research report on Wednesday. Credit Suisse Group set a GBX 515 ($6.56) price target on HSBC in a research report on Wednesday. The Goldman Sachs Group set a GBX 715 ($9.11) price target on HSBC in a research report on Tuesday. Finally, Jefferies Financial Group set a GBX 574 ($7.32) price target on HSBC in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of GBX 557.33 ($7.10).

HSBC stock opened at GBX 486.85 ($6.21) on Tuesday. The stock has a market capitalization of £98.31 billion and a price-to-earnings ratio of 10.19. HSBC has a 1-year low of GBX 358.45 ($4.57) and a 1-year high of GBX 567.20 ($7.23). The business has a fifty day moving average price of GBX 513.19 and a 200-day moving average price of GBX 480.09.

In related news, insider Ewen Stevenson sold 42,720 shares of HSBC stock in a transaction dated Monday, February 28th. The stock was sold at an average price of GBX 512 ($6.53), for a total value of £218,726.40 ($278,774.41).

About HSBC (Get Rating)

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.

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