HSBC (LON:HSBA) Hits New 1-Year High – What’s Next?

HSBC Holdings plc (LON:HSBA)’s stock price reached a new 52-week high on Tuesday . The company traded as high as GBX 1,073.40 and last traded at GBX 1,073.40, with a volume of 185302359 shares. The stock had previously closed at GBX 1,069.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Shore Capital reissued a “hold” rating on shares of HSBC in a research report on Tuesday, October 28th. JPMorgan Chase & Co. raised their price target on shares of HSBC from GBX 950 to GBX 1,010 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 910 price objective on shares of HSBC in a research note on Thursday, July 31st. Royal Bank Of Canada raised their target price on shares of HSBC from GBX 950 to GBX 1,050 and gave the stock a “sector perform” rating in a report on Thursday, October 30th. Finally, Citigroup lifted their target price on shares of HSBC from GBX 1,160 to GBX 1,240 and gave the company a “buy” rating in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of GBX 1,037.50.

HSBC Price Performance

The business’s 50 day moving average price is GBX 1,007.86 and its 200 day moving average price is GBX 933.31. The firm has a market cap of £184.82 billion, a PE ratio of 11.32, a PEG ratio of 5.97 and a beta of 0.52.

HSBC Company Profile

With assets of $3.0tn and operations in 62 countries and territories at 31 December 2022, HSBC is one of the largest banking and financial services organisations in the world. We serve approximately 39 million personal, wealth and corporate customers through three global businesses. We have around 180,000 shareholders in 126 countries and territories.