HSBC Holdings plc (HSBA) Given “Underperform” Rating at Credit Suisse Group

HSBC Holdings plc (LON:HSBA)‘s stock had its “underperform” rating reaffirmed by Credit Suisse Group in a research note issued on Monday. They currently have a GBX 650 ($8.55) price objective on the financial services provider’s stock. Credit Suisse Group’s price target would suggest a potential downside of 11.65% from the company’s previous close.

Several other research analysts also recently issued reports on HSBA. Shore Capital reissued a “sell” rating on shares of HSBC in a research report on Monday, July 31st. UBS AG set a GBX 680 ($8.94) price objective on shares of HSBC and gave the stock a “neutral” rating in a research report on Monday, July 31st. Goldman Sachs Group Inc reissued a “neutral” rating and set a GBX 770 ($10.13) price objective on shares of HSBC in a research report on Tuesday, August 1st. Deutsche Bank AG raised their price objective on shares of HSBC from GBX 695 ($9.14) to GBX 737 ($9.69) and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Finally, S&P Global set a GBX 820 ($10.79) price objective on shares of HSBC and gave the stock a “neutral” rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. HSBC has a consensus rating of “Hold” and a consensus target price of GBX 737.19 ($9.70).

HSBC (LON:HSBA) opened at GBX 735.70 ($9.68) on Monday. HSBC has a 52-week low of GBX 518.17 ($6.82) and a 52-week high of GBX 772 ($10.15).

In other news, insider Iain Mackay purchased 16,980 shares of the stock in a transaction dated Monday, November 13th. The stock was acquired at an average cost of GBX 741 ($9.75) per share, for a total transaction of £125,821.80 ($165,489.68). Also, insider Douglas J. Flint purchased 58 shares of the stock in a transaction dated Wednesday, September 20th. The shares were purchased at an average price of GBX 724 ($9.52) per share, with a total value of £419.92 ($552.31). In the last 90 days, insiders have acquired 17,079 shares of company stock valued at $12,654,270.

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HSBC Company Profile

HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.

Analyst Recommendations for HSBC (LON:HSBA)

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