HSBC (HSBA) PT Set at GBX 810 by Goldman Sachs Group

HSBC (LON:HSBA) has been assigned a GBX 810 ($10.58) price target by research analysts at Goldman Sachs Group in a report released on Friday. The firm presently has a “neutral” rating on the financial services provider’s stock. Goldman Sachs Group’s price target suggests a potential upside of 23.85% from the stock’s current price.

Several other brokerages also recently weighed in on HSBA. Barclays set a GBX 740 ($9.67) target price on HSBC and gave the stock a “neutral” rating in a research note on Tuesday, August 7th. JPMorgan Chase & Co. reduced their target price on HSBC from GBX 780 ($10.19) to GBX 750 ($9.80) and set a “neutral” rating for the company in a research note on Tuesday, October 16th. Deutsche Bank set a GBX 720 ($9.41) target price on HSBC and gave the stock a “neutral” rating in a research note on Tuesday, September 18th. UBS Group reaffirmed a “neutral” rating and set a GBX 650 ($8.49) target price (down from GBX 750 ($9.80)) on shares of HSBC in a research note on Wednesday, October 17th. Finally, Morgan Stanley set a GBX 855 ($11.17) target price on HSBC and gave the stock a “buy” rating in a research note on Tuesday, August 14th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. HSBC presently has a consensus rating of “Hold” and an average target price of GBX 723.43 ($9.45).

Shares of HSBA stock opened at GBX 654 ($8.55) on Friday. HSBC has a 1-year low of GBX 618 ($8.08) and a 1-year high of GBX 798.60 ($10.44).

In related news, insider Iain Mackay sold 24,021 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of GBX 657 ($8.58), for a total transaction of £157,817.97 ($206,217.13).

About HSBC

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.

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