Royal Bank of Canada Reiterates “GBX 750” Price Target for HSBC (HSBA)

Royal Bank of Canada set a GBX 750 ($10.17) price objective on HSBC (LON:HSBA) in a research note released on Monday, December 18th. The brokerage currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. UBS Group set a GBX 725 ($9.83) target price on HSBC and gave the stock a neutral rating in a research report on Monday, September 4th. Barclays reissued a hold rating and issued a GBX 600 ($8.14) price target on shares of HSBC in a research note on Wednesday, September 27th. Societe Generale reissued a buy rating on shares of HSBC in a research note on Monday, October 23rd. JPMorgan Chase & Co. reissued a neutral rating and issued a GBX 690 ($9.36) price target on shares of HSBC in a research note on Tuesday, October 24th. Finally, Deutsche Bank decreased their price target on HSBC from GBX 737 ($9.99) to GBX 700 ($9.49) and set a hold rating for the company in a research note on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. HSBC has an average rating of Hold and a consensus target price of GBX 748.33 ($10.15).

HSBC (LON:HSBA) traded down GBX 4.30 ($0.06) during mid-day trading on Monday, hitting GBX 791.70 ($10.74). The company had a trading volume of 36,564,283 shares, compared to its average volume of 19,940,000. HSBC has a twelve month low of GBX 518.17 ($7.03) and a twelve month high of GBX 798.60 ($10.83). The firm has a market cap of $157,930.00 and a price-to-earnings ratio of 3,958.50.

In other HSBC news, insider Iain Mackay acquired 16,980 shares of HSBC stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average cost of GBX 741 ($10.05) per share, with a total value of £125,821.80 ($170,628.97).

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About HSBC

HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.

Analyst Recommendations for HSBC (LON:HSBA)

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