HSBC (LON:HSBA) has been given a GBX 905 ($11.83) price objective by research analysts at Goldman Sachs Group in a report released on Monday, Borsen Zeitung reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Goldman Sachs Group’s price objective would indicate a potential upside of 48.26% from the company’s previous close.
Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. set a GBX 600 ($7.84) target price on HSBC and gave the stock a “sell” rating in a report on Friday, October 18th. Royal Bank of Canada set a GBX 580 ($7.58) target price on HSBC and gave the stock a “sell” rating in a report on Monday, October 7th. Societe Generale reaffirmed a “hold” rating on shares of HSBC in a report on Tuesday, September 10th. Credit Suisse Group set a GBX 680 ($8.89) target price on HSBC and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Finally, Deutsche Bank reaffirmed a “sell” rating and issued a GBX 520 ($6.79) target price on shares of HSBC in a report on Thursday, October 17th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of GBX 643.07 ($8.40).
Shares of HSBA stock opened at GBX 610.40 ($7.98) on Monday. HSBC has a 12-month low of GBX 6.30 ($0.08) and a 12-month high of GBX 687.70 ($8.99). The stock’s 50-day moving average price is GBX 608.57 and its 200-day moving average price is GBX 639.25. The stock has a market capitalization of $123.55 billion and a price-to-earnings ratio of 8.83.
In related news, insider Marc Moses acquired 21,465 shares of HSBC stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of GBX 586 ($7.66) per share, with a total value of £125,784.90 ($164,360.25).
HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.
Recommended Story: Is it Safe to Invest in Commodities?
Receive News & Ratings for HSBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HSBC and related companies with MarketBeat.com's FREE daily email newsletter.