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

HSBC (LON:HSBA) had its target price lifted by Citigroup from GBX 960 ($12.40) to GBX 1,070 ($13.83) in a research report released on Thursday morning, MarketBeat.com reports. They currently have a buy rating on the financial services provider’s stock.

HSBC Stock Performance

HSBA stock opened at GBX 876.40 ($11.32) on Thursday. The stock has a market capitalization of £195.66 billion, a P/E ratio of 8.43, a PEG ratio of 5.97 and a beta of 0.52. HSBC has a one year low of GBX 572.90 ($7.40) and a one year high of GBX 950.20 ($12.28). The company has a 50 day moving average price of GBX 844.73 and a two-hundred day moving average price of GBX 748.60.

Insiders Place Their Bets

In other HSBC news, insider Georges Elhedery sold 43,451 shares of HSBC stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of GBX 926 ($11.97), for a total value of £402,356.26 ($519,907.30). 0.32% of the stock is owned by corporate insiders.

HSBC Company Profile

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.