HSBC (LON:HSBA) Stock Rating Reaffirmed by Morgan Stanley

HSBC (LON:HSBAGet Rating)‘s stock had its “equal weight” rating reissued by stock analysts at Morgan Stanley in a research note issued to investors on Wednesday, Digital Look reports.

Several other brokerages also recently commented on HSBA. UBS Group set a GBX 640 ($7.89) price objective on HSBC in a research report on Tuesday, May 3rd. JPMorgan Chase & Co. upped their price objective on HSBC from GBX 510 ($6.29) to GBX 540 ($6.66) and gave the company a “neutral” rating in a research report on Tuesday, May 3rd. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 560 ($6.90) price objective on shares of HSBC in a research report on Friday, May 6th. The Goldman Sachs Group set a GBX 710 ($8.75) price objective on HSBC in a research report on Monday, May 2nd. Finally, Royal Bank of Canada upped their target price on HSBC from GBX 550 ($6.78) to GBX 590 ($7.27) and gave the stock an “outperform” rating in a report on Thursday, May 5th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of GBX 565.25 ($6.97).

Shares of HSBC stock opened at GBX 501.90 ($6.19) on Wednesday. The stock’s fifty day moving average is GBX 507.46 and its two-hundred day moving average is GBX 487.36. The company has a market capitalization of £101.01 billion and a PE ratio of 11.10. HSBC has a 52 week low of GBX 358.45 ($4.42) and a 52 week high of GBX 567.20 ($6.99).

In related news, insider Ewen Stevenson sold 42,720 shares of the company’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of GBX 512 ($6.31), for a total transaction of £218,726.40 ($269,666.38).

HSBC Company Profile (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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