Credit Suisse Group Upgrades HSBC (LON:HSBA) to Outperform

Credit Suisse Group upgraded shares of HSBC (LON:HSBA) to an outperform rating in a research note released on Tuesday morning, Borsen Zeitung reports. The brokerage currently has GBX 655 ($8.62) target price on the financial services provider’s stock, up from their prior target price of GBX 635 ($8.35).

HSBA has been the topic of several other research reports. Citigroup lowered shares of HSBC to a sell rating and cut their target price for the company from GBX 540 ($7.10) to GBX 510 ($6.71) in a research report on Wednesday, February 5th. JPMorgan Chase & Co. restated an underweight rating and issued a GBX 600 ($7.89) target price on shares of HSBC in a research report on Tuesday. Shore Capital restated a hold rating and issued a GBX 580 ($7.63) target price on shares of HSBC in a research report on Tuesday, January 14th. Bank of America upgraded shares of HSBC to a buy rating in a research report on Thursday, December 12th. Finally, Morgan Stanley restated an underweight rating on shares of HSBC in a research report on Tuesday, November 19th. Eight analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of GBX 601.67 ($7.91).

Shares of HSBA opened at GBX 584.50 ($7.69) on Tuesday. HSBC has a 12 month low of GBX 0.78 ($0.01) and a 12 month high of GBX 687.70 ($9.05). The firm’s 50 day moving average is GBX 582.59 and its 200-day moving average is GBX 597.54. The stock has a market capitalization of $118.73 billion and a PE ratio of 9.08.

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.

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Analyst Recommendations for HSBC (LON:HSBA)

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