HSBC (LON:HSBA) Sets New 1-Year High – What’s Next?

HSBC Holdings plc (LON:HSBA)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 1,248.20 and last traded at GBX 1,248, with a volume of 274250781 shares changing hands. The stock had previously closed at GBX 1,231.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HSBA shares. JPMorgan Chase & Co. raised their price objective on HSBC from GBX 1,010 to GBX 1,060 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. Citigroup increased their target price on shares of HSBC from GBX 1,240 to GBX 1,320 and gave the stock a “buy” rating in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft raised their price target on shares of HSBC from GBX 1,050 to GBX 1,200 and gave the stock a “hold” rating in a research report on Friday. Shore Capital reaffirmed a “hold” rating and set a GBX 1,070 price objective on shares of HSBC in a research report on Friday, January 9th. Finally, Royal Bank Of Canada increased their price objective on shares of HSBC from GBX 950 to GBX 1,050 and gave the stock a “sector perform” rating in a research note on Thursday, October 30th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of GBX 1,122.50.

HSBC Stock Performance

The firm has a market capitalization of £212.63 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The business has a fifty day moving average of GBX 1,142.52 and a 200-day moving average of GBX 1,043.32.

HSBC Company Profile