HSBC (LON:HSBA) Reaches New 52-Week High – Here’s Why

HSBC Holdings plc (LON:HSBA)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 1,365.20 and last traded at GBX 1,365.20, with a volume of 270974875 shares traded. The stock had previously closed at GBX 1,291.40.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HSBA shares. JPMorgan Chase & Co. raised their price objective on shares of HSBC from GBX 1,060 to GBX 1,190 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Shore Capital Group reiterated a “hold” rating and set a GBX 1,070 price target on shares of HSBC 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 company a “hold” rating in a research report on Friday, January 23rd. Citigroup upped their price objective on HSBC from GBX 1,240 to GBX 1,320 and gave the company a “buy” rating in a research report on Friday, January 9th. Finally, Royal Bank Of Canada increased their target price on HSBC from GBX 950 to GBX 1,050 and gave the company 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of GBX 1,144.17.

HSBC Stock Up 5.8%

The stock has a market capitalization of £234.59 billion, a PE ratio of 14.39, a PEG ratio of 5.97 and a beta of 0.52. The firm’s fifty day moving average price is GBX 1,233.53 and its two-hundred day moving average price is GBX 1,099.06.

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