HSBC (LON:HSBA) has been given a GBX 600 ($7.84) target price by research analysts at Royal Bank of Canada in a research note issued to investors on Friday, Borsen Zeitung reports. The brokerage currently has a “sell” rating on the financial services provider’s stock. Royal Bank of Canada’s target price points to a potential downside of 7.85% from the company’s previous close.
HSBA has been the subject of a number of other reports. JPMorgan Chase & Co. lowered their price target on shares of HSBC from GBX 750 ($9.80) to GBX 690 ($9.02) and set a “neutral” rating for the company in a report on Monday, January 21st. Goldman Sachs Group set a GBX 815 ($10.65) target price on shares of HSBC and gave the company a “neutral” rating in a report on Thursday, January 17th. Shore Capital restated a “hold” rating on shares of HSBC in a report on Tuesday, February 19th. Jefferies Financial Group restated a “buy” rating on shares of HSBC in a report on Tuesday, April 9th. Finally, Barclays restated an “underweight” rating on shares of HSBC in a report on Tuesday, January 29th. Seven research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of GBX 662.38 ($8.66).
Shares of LON HSBA traded down GBX 0.80 ($0.01) during midday trading on Friday, reaching GBX 651.10 ($8.51). 5,839,788 shares of the stock were exchanged, compared to its average volume of 26,590,000. The company has a market cap of $132.29 billion and a PE ratio of 10.33. HSBC has a 52-week low of GBX 596.40 ($7.79) and a 52-week high of GBX 749.90 ($9.80).
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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