Berenberg Bank set a GBX 700 ($9.15) price objective on HSBC (LON:HSBA) in a research report sent to investors on Tuesday morning. The brokerage currently has a neutral rating on the financial services provider’s stock.
HSBA has been the subject of several other reports. Citigroup reaffirmed a buy rating on shares of HSBC in a report on Wednesday, September 5th. Morgan Stanley set a GBX 855 ($11.17) target price on HSBC and gave the company a buy rating in a report on Tuesday, August 14th. Jefferies Financial Group reaffirmed a buy rating and set a GBX 950 ($12.41) target price on shares of HSBC in a report on Monday, October 29th. Barclays reaffirmed an equal weight rating and set a GBX 740 ($9.67) target price (up from GBX 700 ($9.15)) on shares of HSBC in a report on Tuesday, October 30th. Finally, Societe Generale downgraded HSBC to a hold rating in a report on Monday, September 10th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of GBX 717.71 ($9.38).
Shares of HSBA stock opened at GBX 653.50 ($8.54) on Tuesday. HSBC has a fifty-two week low of GBX 618 ($8.08) and a fifty-two week high of GBX 798.60 ($10.44).
In other news, insider Iain Mackay sold 71,587 shares of the company’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of GBX 674 ($8.81), for a total transaction of £482,496.38 ($630,466.98).
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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