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

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

Several other brokerages have also recently weighed in on HSBA. Morgan Stanley reissued an underweight rating on shares of HSBC in a research report on Tuesday, November 19th. UBS Group dropped their price target on shares of HSBC from GBX 575 ($7.56) to GBX 530 ($6.97) and set a neutral rating for the company in a research report on Monday, February 3rd. Bank of America raised shares of HSBC to a buy rating in a research report on Thursday, December 12th. Barclays reissued an underweight rating on shares of HSBC in a research report on Tuesday, January 21st. Finally, Goldman Sachs Group dropped their price target on shares of HSBC from GBX 865 ($11.38) to GBX 860 ($11.31) and set a buy rating for the company in a research report on Friday, February 7th. Eight research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of GBX 601.67 ($7.91).

Shares of HSBA opened at GBX 584.50 ($7.69) on Tuesday. The stock has a market capitalization of $118.73 billion and a P/E ratio of 9.08. The firm has a fifty day simple moving average of GBX 582.59 and a two-hundred day simple moving average of GBX 597.54. HSBC has a twelve month low of GBX 0.78 ($0.01) and a twelve month high of GBX 687.70 ($9.05).

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: Why does a company issue an IPO?

Analyst Recommendations for HSBC (LON:HSBA)

Receive News & Ratings for HSBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HSBC and related companies with MarketBeat.com's FREE daily email newsletter.