HSBC Holdings plc Lowers South32 Ltd (S32) to Hold
South32 Ltd (LON:S32) was downgraded by equities research analysts at HSBC Holdings plc to a “hold” rating in a note issued to investors on Friday. They currently have a GBX 175 ($2.27) price objective on the stock, down from their previous price objective of GBX 190 ($2.46). HSBC Holdings plc’s target price would indicate a potential upside of 4.79% from the stock’s current price.
A number of other brokerages have also issued reports on S32. Jefferies Group LLC lowered South32 to a “hold” rating and decreased their target price for the company from GBX 225 ($2.91) to GBX 170 ($2.20) in a research report on Thursday, June 8th. Barclays PLC reissued an “overweight” rating and issued a GBX 210 ($2.72) price objective on shares of South32 in a research note on Friday. Macquarie reissued an “outperform” rating and issued a GBX 200 ($2.59) price objective on shares of South32 in a research note on Thursday, May 11th. Credit Suisse Group reissued an “outperform” rating and issued a GBX 180 ($2.33) price objective on shares of South32 in a research note on Tuesday, June 27th. Finally, Deutsche Bank AG reduced their price objective on South32 from GBX 162 ($2.10) to GBX 153 ($1.98) and set a “hold” rating for the company in a research note on Friday, March 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of GBX 171.09 ($2.22).
Shares of South32 (LON S32) opened at 167.00 on Friday. The company has a 50-day moving average of GBX 155.62 and a 200 day moving average of GBX 162.53. South32 has a 12 month low of GBX 86.75 and a 12 month high of GBX 184.00. The company’s market cap is GBX 8.88 billion.
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South32 Company Profile
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