HSBC (LON:HSBA) Price Target Raised to GBX 1,070 at Citigroup

HSBC (LON:HSBA) had its price objective boosted by investment analysts at Citigroup from GBX 960 ($12.37) to GBX 1,070 ($13.79) in a research report issued on Thursday,London Stock Exchange reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price points to a potential upside of 20.84% from the stock’s previous close.

HSBC Price Performance

LON HSBA traded down GBX 42.90 ($0.55) on Thursday, hitting GBX 885.50 ($11.41). 257,928,891 shares of the company’s stock were exchanged, compared to its average volume of 31,504,715. The firm’s 50-day moving average price is GBX 840.57 and its two-hundred day moving average price is GBX 746.05. The firm has a market cap of £197.70 billion, a price-to-earnings ratio of 8.52, a P/E/G ratio of 5.97 and a beta of 0.52. HSBC has a fifty-two week low of GBX 572.90 ($7.38) and a fifty-two week high of GBX 950.20 ($12.25).

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.