HSBC (HSBA) Lifted to “Buy” at Goldman Sachs Group

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HSBC (LON:HSBA) was upgraded by equities research analysts at Goldman Sachs Group to a “buy” rating in a report released on Thursday, Borsen Zeitung reports. The firm currently has a GBX 925 ($12.09) price target on the financial services provider’s stock, up from their prior price target of GBX 805 ($10.52). Goldman Sachs Group’s price objective would suggest a potential upside of 40.28% from the company’s current price.

Several other equities research analysts have also recently commented on HSBA. Deutsche Bank set a GBX 540 ($7.06) price target on shares of HSBC and gave the stock a “sell” rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. reissued an “underweight” rating and set a GBX 620 ($8.10) price target on shares of HSBC in a research report on Tuesday, May 14th. Royal Bank of Canada set a GBX 600 ($7.84) price target on shares of HSBC and gave the stock a “sell” rating in a research report on Friday, May 10th. UBS Group reissued a “neutral” rating and set a GBX 625 ($8.17) price target on shares of HSBC in a research report on Friday, May 3rd. Finally, Morgan Stanley set a GBX 740 ($9.67) price target on shares of HSBC and gave the stock a “buy” rating in a research report on Monday, May 13th. Seven analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. HSBC currently has an average rating of “Hold” and a consensus price target of GBX 670.31 ($8.76).

Shares of LON:HSBA opened at GBX 659.40 ($8.62) on Thursday. HSBC has a one year low of GBX 596.40 ($7.79) and a one year high of GBX 749.90 ($9.80). The stock has a market cap of $133.08 billion and a price-to-earnings ratio of 9.56.

In other news, insider John Flint sold 72,969 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of GBX 622 ($8.13), for a total value of £453,867.18 ($593,057.86). Also, insider Marc Moses sold 146,649 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of GBX 625 ($8.17), for a total transaction of £916,556.25 ($1,197,643.08). Over the last ninety days, insiders sold 467,788 shares of company stock worth $292,274,178.

About HSBC

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.

See Also: Short Selling Stocks, A Beginner’s Guide

Analyst Recommendations for HSBC (LON:HSBA)

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