HSBC Holdings, the Financial sector company, was revisited by a Wall Street analyst today. Analyst Perlie Mong from Bank of America Securities upgraded the rating on the stock to a Buy and gave it a p1,300.00 price target.
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Perlie Mong has given his Buy rating due to a combination of factors including HSBC Holdings’ strategic focus and growth potential in key markets. The bank’s significant market share in Hong Kong deposits and its strong position in Asia Wealth are expected to drive substantial growth by 2026. Management’s commitment to increasing investments in these areas is anticipated to enhance HSBC’s competitive advantage and result in market share gains.
Additionally, HSBC’s valuation appears attractive given its high return on tangible equity and strong deposit franchise. The bank is trading at a lower price-to-earnings and price-to-tangible book value ratio compared to peers with similar profiles. These factors, along with expected higher revenue and buybacks, contribute to the positive outlook and justify the upgrade to a Buy rating.
In another report released on December 7, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a p1,221.00 price target.