Barclays Reaffirms Equal Weight Rating for HSBC (LON:HSBA)

HSBC (LON:HSBA)‘s stock had its “equal weight” rating reissued by research analysts at Barclays in a report released on Tuesday, October 30th. They currently have a GBX 740 ($9.67) target price on the financial services provider’s stock, up from their previous target price of GBX 700 ($9.15). Barclays’ price objective indicates a potential upside of 13.81% from the stock’s current price.

Several other analysts have also issued reports on HSBA. UBS Group set a GBX 735 ($9.60) target price on HSBC and gave the stock a “neutral” rating in a report on Tuesday, July 3rd. Deutsche Bank set a GBX 720 ($9.41) price objective on HSBC and gave the company a “neutral” rating in a research note on Tuesday, July 10th. JPMorgan Chase & Co. set a GBX 780 ($10.19) price objective on HSBC and gave the company a “neutral” rating in a research note on Wednesday, July 11th. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 680 ($8.89) target price on shares of HSBC in a research report on Monday, July 23rd. Finally, Goldman Sachs Group set a GBX 790 ($10.32) target price on HSBC and gave the company a “neutral” rating in a research report on Monday, July 23rd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of GBX 720.57 ($9.42).

Shares of HSBC stock traded down GBX 9.90 ($0.13) during trading on Tuesday, reaching GBX 650.20 ($8.50). The stock had a trading volume of 15,982,535 shares, compared to its average volume of 26,590,000. HSBC has a 52 week low of GBX 618 ($8.08) and a 52 week high of GBX 798.60 ($10.44).

In related news, insider Iain Mackay sold 24,021 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of GBX 657 ($8.58), for a total transaction of £157,817.97 ($206,217.13).

HSBC Company Profile

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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