Morgan Stanley Trims HSBC (LON:HSBA) Target Price to GBX 820

HSBC (LON:HSBA) had its price objective decreased by Morgan Stanley from GBX 850 ($11.74) to GBX 820 ($11.33) in a report issued on Wednesday, February 21st. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 16.18% from the company’s current price.

A number of other research firms have also commented on HSBA. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a GBX 690 ($9.53) price target on shares of HSBC in a research report on Tuesday, October 24th. Deutsche Bank restated a “hold” rating and set a GBX 737 ($10.18) target price on shares of HSBC in a research report on Tuesday, October 24th. Goldman Sachs Group set a GBX 845 ($11.67) price objective on shares of HSBC and gave the company a “neutral” rating in a report on Wednesday, October 25th. Jefferies Group reiterated a “buy” rating and set a GBX 920 ($12.71) price target on shares of HSBC in a report on Monday, October 30th. Finally, Shore Capital restated a “sell” rating on shares of HSBC in a report on Monday, October 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. HSBC presently has an average rating of “Hold” and a consensus price target of GBX 759 ($10.49).

Shares of HSBC (LON HSBA) traded up GBX 3 ($0.04) during mid-day trading on Wednesday, hitting GBX 705.80 ($9.75). The stock had a trading volume of 18,181,722 shares, compared to its average volume of 24,710,000. HSBC has a 12 month low of GBX 618 ($8.54) and a 12 month high of GBX 798.60 ($11.03). The company has a market capitalization of $141,240.00 and a PE ratio of 1,764.50.

In related news, insider Laura May Lung Cha bought 8,000 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were acquired at an average price of GBX 6,210 ($85.80) per share, for a total transaction of £496,800 ($686,377.45). Also, insider Marc Moses sold 88,231 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of GBX 721 ($9.96), for a total transaction of £636,145.51 ($878,896.81).

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HSBC Company Profile

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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