HSBC (LON:HSBA) Hits New 12-Month High – Should You Buy?

HSBC Holdings plc (LON:HSBA) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 1,283.60 and last traded at GBX 1,273.33, with a volume of 57018977 shares changing hands. The stock had previously closed at GBX 1,242.20.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on HSBC from GBX 1,050 to GBX 1,200 and gave the stock a “hold” rating in a report on Friday, January 23rd. Citigroup boosted their price objective on HSBC from GBX 1,240 to GBX 1,320 and gave the stock a “buy” rating in a report on Friday, January 9th. Shore Capital reiterated a “hold” rating and issued a GBX 1,070 target price on shares of HSBC in a report on Friday, January 9th. Royal Bank Of Canada boosted their price target on shares of HSBC from GBX 950 to GBX 1,050 and gave the company a “sector perform” rating in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on HSBC from GBX 1,010 to GBX 1,060 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of GBX 1,122.50.

HSBC Stock Down 1.6%

The stock’s 50-day moving average price is GBX 1,149.80 and its 200 day moving average price is GBX 1,050.13. The company has a market cap of £215.84 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52.

About HSBC