JPMorgan Chase & Co. Raises HSBC (LON:HSBA) Price Target to GBX 700

HSBC (LON:HSBA) had its target price upped by equities researchers at JPMorgan Chase & Co. from GBX 660 ($8.29) to GBX 700 ($8.79) in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 0.78% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Berenberg Bank upped their price objective on HSBC from GBX 800 ($10.05) to GBX 830 ($10.43) and gave the stock a “buy” rating in a research report on Tuesday. Barclays reiterated an “overweight” rating and issued a GBX 800 ($10.05) price target on shares of HSBC in a research note on Thursday, February 29th. Shore Capital reaffirmed a “buy” rating on shares of HSBC in a research report on Tuesday. Finally, Citigroup reissued a “buy” rating and issued a GBX 810 ($10.17) price target on shares of HSBC in a research report on Wednesday, April 10th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 807.65 ($10.15).

HSBC Stock Performance

LON HSBA opened at GBX 705.50 ($8.86) on Thursday. HSBC has a one year low of GBX 572.90 ($7.20) and a one year high of GBX 714.40 ($8.97). The firm has a 50 day simple moving average of GBX 628.90 and a 200-day simple moving average of GBX 619.68. The firm has a market cap of £133.27 billion, a price-to-earnings ratio of 775.27, a PEG ratio of 0.45 and a beta of 0.58.

Insider Buying and Selling at HSBC

In other news, insider Georges Elhedery sold 28,719 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of GBX 590 ($7.41), for a total transaction of £169,442.10 ($212,840.22). In other news, insider Noel Quinn sold 89,546 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of GBX 596 ($7.49), for a total value of £533,694.16 ($670,385.83). Also, insider Georges Elhedery sold 28,719 shares of HSBC stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of GBX 590 ($7.41), for a total transaction of £169,442.10 ($212,840.22). 0.36% of the stock is owned by insiders.

HSBC Company Profile

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.