HSBC (LON:HSBA) Stock Rating Reaffirmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their underweight rating on shares of HSBC (LON:HSBA) in a research report sent to investors on Tuesday, Borsen Zeitung reports. They currently have a GBX 600 ($7.89) price objective on the financial services provider’s stock.

HSBA has been the subject of several other reports. Citigroup cut HSBC to a sell rating and reduced their target price for the stock from GBX 540 ($7.10) to GBX 510 ($6.71) in a research report on Wednesday, February 5th. Deutsche Bank restated a sell rating and set a GBX 520 ($6.84) target price (down from GBX 560 ($7.37)) on shares of HSBC in a research report on Monday, October 28th. Shore Capital restated a hold rating and set a GBX 580 ($7.63) target price on shares of HSBC in a research report on Tuesday, January 14th. Jefferies Financial Group upgraded HSBC to a buy rating and boosted their target price for the stock from GBX 691 ($9.09) to GBX 790 ($10.39) in a research report on Monday, November 18th. Finally, Goldman Sachs Group reduced their target price on 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 issued a hold rating and four have assigned a buy rating to the company. HSBC currently has a consensus rating of Hold and a consensus price target of GBX 601.67 ($7.91).

HSBC stock opened at GBX 584.50 ($7.69) on Tuesday. HSBC has a 52 week low of GBX 0.78 ($0.01) and a 52 week high of GBX 687.70 ($9.05). The business has a 50-day simple moving average of GBX 582.59 and a 200 day simple moving average of GBX 597.54. The stock has a market cap of $118.73 billion and a price-to-earnings 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.

Read More: What does a neutral rating on stocks mean?

Analyst Recommendations for HSBC (LON:HSBA)

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