HSBC (LON:HSBA) Reaches New 12-Month High – Still a Buy?

HSBC Holdings plc (LON:HSBA)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 1,365.20 and last traded at GBX 1,365.20, with a volume of 270974875 shares traded. The stock had previously closed at GBX 1,291.40.

Wall Street Analysts Forecast Growth

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

HSBC Price Performance

The stock’s 50-day moving average is GBX 1,243.10 and its 200 day moving average is GBX 1,103.04. The stock has a market cap of £240.64 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 5.97 and a beta of 0.52.

HSBC Company Profile