Santander Downgrades HSBC Holdings to Underweight (HSBA)
HSBC Holdings (LON:HSBA) was downgraded by research analysts at Santander to an “underweight” rating in a report released on Friday, Analyst Ratings Network reports. They currently have a GBX 690 ($11.05) price target on the stock, up from their previous price target of GBX 632 ($10.12). Santander’s target price suggests a potential upside of 1.04% from the company’s current price.
Shares of HSBC Holdings (LON:HSBA) traded down 0.95% during mid-day trading on Friday, hitting GBX 676.40. The stock had a trading volume of 11,151,024 shares. HSBC Holdings has a 52-week low of GBX 573.30 and a 52-week high of GBX 772.50. The stock has a 50-day moving average of GBX 702.3 and a 200-day moving average of GBX 709.2. The company’s market cap is £123.4 billion.
HSBA has been the subject of a number of other recent research reports. Analysts at Mizuho reiterated a “neutral” rating on shares of HSBC Holdings (LON:HSBA) in a research note to investors on Thursday. They now have a GBX 750 ($12.01) price target on the stock. Separately, analysts at Grupo Santander downgraded shares of HSBC Holdings (LON:HSBA) to an “underweight” rating in a research note to investors on Monday. They now have a GBX 690 ($11.05) price target on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of HSBC Holdings (LON:HSBA) in a research note to investors on Monday. They now have a GBX 730 ($11.69) price target on the stock. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of GBX 769.33 ($12.32).
HSBC Holdings plc is a banking and financial services organization. It serves around 89 million customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking.
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