Citigroup Cuts HSBC (LON:HSBA) Price Target to GBX 1,570

HSBC (LON:HSBA) had its price objective reduced by Citigroup from GBX 1,640 to GBX 1,570 in a research report released on Wednesday morning,Digital Look reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other analysts also recently commented on the stock. Shore Capital Group upgraded shares of HSBC to a “hold” rating and boosted their price target for the stock from GBX 1,210 to GBX 1,250 in a research report on Thursday, May 7th. JPMorgan Chase & Co. upgraded shares of HSBC to a “neutral” rating and raised their price objective for the company from GBX 1,370 to GBX 1,380 in a research note on Tuesday, July 21st. UBS Group restated a “neutral” rating and issued a GBX 1,419 target price on shares of HSBC in a research report on Tuesday, May 5th. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 1,120 price target on shares of HSBC in a research note on Tuesday. Finally, HSBC reiterated a “hold” rating and set a GBX 1,450 price target on shares of HSBC in a research report on Wednesday, May 6th. Eight equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of GBX 1,381.75.

HSBC Stock Up 0.5%

HSBA stock opened at GBX 1,529.20 on Wednesday. The company has a 50-day simple moving average of GBX 1,456.76 and a 200 day simple moving average of GBX 1,349.31. The company has a market capitalization of £262.23 billion, a P/E ratio of 12.64, a PEG ratio of 5.97 and a beta of 0.58. HSBC has a fifty-two week low of GBX 927.70 and a fifty-two week high of GBX 1,610.

Insider Activity at HSBC

In other HSBC news, insider Pam Kaur bought 2,345 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of GBX 1,340 per share, with a total value of £31,423. 0.14% of the stock is owned by insiders.

HSBC Company Profile