Royal Bank Of Canada Increases HSBC (LON:HSBA) Price Target to GBX 950

HSBC (LON:HSBA) had its target price raised by equities research analysts at Royal Bank Of Canada from GBX 900 ($12.18) to GBX 950 ($12.85) in a note issued to investors on Wednesday, MarketBeat reports. The firm currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank Of Canada’s target price points to a potential downside of 0.35% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 910 ($12.31) price target on shares of HSBC in a research report on Thursday, July 31st. JPMorgan Chase & Co. increased their target price on HSBC from GBX 830 ($11.23) to GBX 870 ($11.77) and gave the company a “neutral” rating in a report on Monday, August 4th. Finally, Shore Capital reaffirmed a “hold” rating and issued a GBX 980 ($13.26) price target on shares of HSBC in a research note on Wednesday, July 30th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of GBX 955 ($12.92).

HSBC Price Performance

Shares of HSBA stock opened at GBX 953.34 ($12.90) on Wednesday. The stock has a 50 day simple moving average of GBX 909.59 and a 200-day simple moving average of GBX 872.04. The company has a market cap of £212.84 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 5.97 and a beta of 0.52. HSBC has a 1-year low of GBX 616.03 ($8.33) and a 1-year high of GBX 978.79 ($13.24).

About HSBC

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.