HSBC (LON:HSBA) Price Target Raised to GBX 780 at Barclays

HSBC (LON:HSBAGet Rating) had its price target boosted by analysts at Barclays from GBX 720 ($8.82) to GBX 780 ($9.56) in a report released on Tuesday, reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective points to a potential upside of 44.50% from the company’s current price.

Other research analysts have also recently issued reports about the stock. UBS Group set a GBX 635 ($7.78) target price on shares of HSBC in a report on Monday, July 11th. Jefferies Financial Group set a GBX 574 ($7.03) target price on shares of HSBC in a report on Wednesday, April 27th. The Goldman Sachs Group set a GBX 800 ($9.80) target price on shares of HSBC in a report on Monday. Royal Bank of Canada set a GBX 590 ($7.23) target price on shares of HSBC in a report on Monday. Finally, Shore Capital reaffirmed a “hold” rating on shares of HSBC in a report on Monday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of GBX 618.30 ($7.58).

HSBC Price Performance

Shares of LON HSBA opened at GBX 539.80 ($6.61) on Tuesday. HSBC has a 1 year low of GBX 358.45 ($4.39) and a 1 year high of GBX 567.20 ($6.95). The stock has a market cap of £108.22 billion and a P/E ratio of 1,126.46. The firm has a 50-day moving average of GBX 526.71 and a 200 day moving average of GBX 519.67.

Insider Activity at HSBC

In other news, insider Carolyn Fairbairn purchased 15,000 shares of the company’s stock in a transaction on Tuesday, May 17th. The stock was acquired at an average cost of GBX 501 ($6.14) per share, for a total transaction of £75,150 ($92,084.30).

HSBC Company Profile

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HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.

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