HSBC (LON:HSBA) Given New GBX 500 Price Target at JPMorgan Chase & Co.

HSBC (LON:HSBA) had its target price increased by JPMorgan Chase & Co. from GBX 450 ($6.11) to GBX 500 ($6.79) in a report published on Wednesday morning, Analyst Price Targets reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on the company. The Goldman Sachs Group set a GBX 620 ($8.42) price objective on HSBC in a research report on Tuesday, November 2nd. Royal Bank of Canada set a GBX 530 ($7.19) price objective on HSBC in a research report on Friday, January 7th. Barclays restated an overweight rating on shares of HSBC in a research report on Wednesday, December 8th. Deutsche Bank Aktiengesellschaft upgraded HSBC to a hold rating and raised their price objective for the stock from GBX 390 ($5.29) to GBX 480 ($6.52) in a research report on Tuesday, December 7th. Finally, Morgan Stanley raised their price objective on HSBC from GBX 460 ($6.24) to GBX 484 ($6.57) and gave the stock an equal weight rating in a research report on Thursday, December 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of GBX 496.83 ($6.74).

Shares of HSBA opened at GBX 516.60 ($7.01) on Wednesday. HSBC has a 1 year low of GBX 344.46 ($4.68) and a 1 year high of GBX 517.50 ($7.02). The company has a market capitalization of £104.88 billion and a price-to-earnings ratio of 12.69. The business has a 50-day moving average of GBX 447.71 and a 200-day moving average of GBX 419.18.

In other HSBC news, insider Ewen Stevenson bought 38,653 shares of the stock in a transaction on Monday, November 15th. The stock was acquired at an average cost of GBX 434 ($5.89) per share, for a total transaction of £167,754.02 ($227,710.09).

About HSBC

HSBC Holdings plc provides banking and financial products and services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking products and services, such as current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services for ultra high net worth individuals; and wealth management services, including insurance and investment products, global asset management services, investment management, and private wealth solutions.

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