HSBC (LON:HSBA) Reaches New 1-Year High – Still a Buy?

HSBC Holdings plc (LON:HSBA)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 1,322.60 and last traded at GBX 1,322, with a volume of 283299906 shares. The stock had previously closed at GBX 1,305.40.

Wall Street Analyst Weigh In

HSBA has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of HSBC from GBX 1,060 to GBX 1,190 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Shore Capital Group reissued a “hold” rating and issued a GBX 1,070 price target on shares of HSBC in a report on Friday, January 9th. Royal Bank Of Canada raised their price objective on HSBC from GBX 950 to GBX 1,050 and gave the company a “sector perform” rating in a research note on Thursday, October 30th. Citigroup upped their target price on HSBC from GBX 1,240 to GBX 1,320 and gave the company a “buy” rating in a research report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on HSBC from GBX 1,050 to GBX 1,200 and gave the company a “hold” rating in a research note on Friday, January 23rd. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of GBX 1,144.17.

HSBC Trading Down 2.7%

The company has a 50-day moving average of GBX 1,208.47 and a 200-day moving average of GBX 1,079.94. The firm has a market capitalization of £211.66 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52.

HSBC Company Profile