JPMorgan Chase & Co. Upgrades HSBC (LON:HSBA) to “Neutral”

HSBC (LON:HSBA) was upgraded by analysts at JPMorgan Chase & Co. to a “neutral” rating in a research note issued on Tuesday,Digital Look reports. The brokerage presently has a GBX 1,380 price objective on the financial services provider’s stock, up from their previous price objective of GBX 1,370. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 7.62% from the company’s previous close.

A number of other research analysts have also commented on HSBA. UBS Group reiterated a “neutral” rating and set a GBX 1,419 price objective on shares of HSBC in a research note on Tuesday, May 5th. HSBC reaffirmed a “hold” rating and set a GBX 1,450 price target on shares of HSBC in a research note on Wednesday, May 6th. Jefferies Financial Group reiterated a “hold” rating and set a GBX 1,120 price target on shares of HSBC in a research report on Tuesday, May 5th. Shore Capital Group raised HSBC to a “hold” rating and boosted their price objective for the stock from GBX 1,210 to GBX 1,250 in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada upped their price objective on HSBC from GBX 1,200 to GBX 1,275 and gave the company a “sector perform” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, HSBC presently has an average rating of “Hold” and an average price target of GBX 1,301.75.

HSBC Trading Up 0.9%

HSBA stock opened at GBX 1,493.80 on Tuesday. The firm’s 50-day moving average is GBX 1,403.95 and its two-hundred day moving average is GBX 1,316.47. The company has a market capitalization of £256.16 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 5.97 and a beta of 0.56. HSBC has a 52 week low of GBX 908.97 and a 52 week high of GBX 1,499.

Insiders Place Their Bets

In other HSBC news, insider Pam Kaur bought 2,345 shares of HSBC stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of GBX 1,340 per share, for a total transaction of £31,423. Insiders own 0.14% of the company’s stock.

HSBC Company Profile