HSBC (HSBA) Raised to Neutral at Credit Suisse Group
Credit Suisse Group upgraded shares of HSBC (LON:HSBA) to a neutral rating in a report issued on Thursday morning. Credit Suisse Group currently has GBX 720 ($9.38) price target on the financial services provider’s stock, up from their previous price target of GBX 680 ($8.86).
A number of other research firms have also commented on HSBA. Barclays set a GBX 750 ($9.77) price target on shares of HSBC and gave the company a neutral rating in a research report on Tuesday, June 12th. JPMorgan Chase & Co. reissued a neutral rating and issued a GBX 730 ($9.51) price target on shares of HSBC in a research report on Tuesday, June 12th. DZ Bank reissued a sell rating on shares of HSBC in a research report on Tuesday, June 12th. Shore Capital dropped their price target on shares of HSBC from GBX 721 ($9.39) to GBX 625 ($8.14) and set a sell rating on the stock in a research report on Tuesday, June 12th. Finally, UBS Group set a GBX 735 ($9.57) price target on shares of HSBC and gave the company a neutral rating in a research report on Tuesday, June 12th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. HSBC has a consensus rating of Hold and a consensus price target of GBX 764.67 ($9.96).
LON:HSBA opened at GBX 680.40 ($8.86) on Thursday. HSBC has a 12 month low of GBX 618 ($8.05) and a 12 month high of GBX 798.60 ($10.40).
In related news, insider Iain Mackay sold 24,021 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of GBX 657 ($8.56), for a total transaction of £157,817.97 ($205,572.45).
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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