Royal Bank Of Canada Forecasts Strong Price Appreciation for HSBC (LON:HSBA) Stock

HSBC (LON:HSBA) had its target price raised by equities research analysts at Royal Bank Of Canada from GBX 950 to GBX 1,050 in a research note issued on Thursday, Marketbeat reports. The brokerage presently has a “sector perform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target points to a potential downside of 0.96% from the company’s current price.

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. raised their price objective on HSBC from GBX 940 to GBX 950 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Citigroup raised their price objective on HSBC from GBX 1,160 to GBX 1,240 and gave the stock a “buy” rating in a research report on Wednesday. Shore Capital restated a “hold” rating on shares of HSBC in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 910 price objective on shares of HSBC in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of GBX 1,037.50.

HSBC Trading Down 0.9%

Shares of LON HSBA opened at GBX 1,060.20 on Thursday. HSBC has a one year low of GBX 688.70 and a one year high of GBX 1,073.40. The firm has a market capitalization of £182.82 billion, a PE ratio of 10.50, a PEG ratio of 5.97 and a beta of 0.52. The business has a 50-day moving average price of GBX 1,005.82 and a two-hundred day moving average price of GBX 929.28.

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.