JPMorgan Chase & Co. Reaffirms “Underweight” Rating for HSBC (LON:HSBA)
JPMorgan Chase & Co. restated their underweight rating on shares of HSBC (LON:HSBA) in a research note issued to investors on Tuesday morning, Borsen Zeitung reports. JPMorgan Chase & Co. currently has a GBX 600 ($7.89) target price on the financial services provider’s stock.
Several other equities research analysts have also issued reports on the stock. Morgan Stanley restated an underweight rating on shares of HSBC in a report on Tuesday, November 19th. Credit Suisse Group lowered their target price on shares of HSBC from GBX 680 ($8.95) to GBX 655 ($8.62) and set a neutral rating for the company in a report on Tuesday, October 29th. Citigroup lowered shares of HSBC to a sell rating and lowered their target price for the stock from GBX 540 ($7.10) to GBX 510 ($6.71) in a report on Wednesday, February 5th. Bank of America upgraded shares of HSBC to a buy rating in a report on Thursday, December 12th. Finally, Barclays restated an underweight rating on shares of HSBC in a report on Tuesday, January 21st. Eight equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of GBX 601.67 ($7.91).
HSBC stock opened at GBX 590.10 ($7.76) on Tuesday. The firm has a 50-day moving average price of GBX 582.78 and a 200-day moving average price of GBX 597.90. The firm has a market capitalization of $119.46 billion and a PE ratio of 9.16. HSBC has a 12-month low of GBX 0.78 ($0.01) and a 12-month high of GBX 687.70 ($9.05).
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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