HSBC (LON:HSBA) Downgraded to “Underweight” at Barclays
Barclays downgraded shares of HSBC (LON:HSBA) to an underweight rating in a report released on Wednesday, ThisIsMoney.Co.Uk reports. Barclays currently has GBX 600 ($7.84) price target on the financial services provider’s stock, down from their prior price target of GBX 740 ($9.67).
Other equities analysts also recently issued reports about the company. UBS Group set a $133.00 price objective on LHC Group and gave the stock a buy rating in a research report on Friday, May 10th. Deutsche Bank raised their price objective on Spirit Airlines from $75.00 to $79.00 and gave the stock a buy rating in a research report on Friday, July 12th. Morgan Stanley restated a hold rating on shares of PG&E in a research report on Friday, June 21st. Royal Bank of Canada set a €225.00 ($261.63) price objective on ASML and gave the stock a buy rating in a research report on Wednesday, June 12th. Finally, Credit Suisse Group set a $96.00 price objective on Tyson Foods and gave the stock a buy rating in a research report on Thursday, June 13th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of GBX 670 ($8.75).
Shares of HSBA opened at GBX 662.70 ($8.66) on Wednesday. HSBC has a 1 year low of GBX 596.40 ($7.79) and a 1 year high of GBX 736 ($9.62). The company has a market capitalization of $134.41 billion and a P/E ratio of 9.60. The business’s 50-day moving average is GBX 656.62.
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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