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Pin to quick picksHSBC Holdings Share News (HSBA)

Share Price Information for HSBC Holdings (HSBA)

London Stock Exchange
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Share Price: 693.40
Bid: 695.20
Ask: 695.40
Change: 2.00 (0.29%)
Spread: 0.20 (0.029%)
Open: 689.30
High: 697.20
Low: 687.00
Prev. Close: 691.40
HSBA Live PriceLast checked at -

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Broker snap: Investec downgrades ratings for HSBC and RBS

Fri, 19th Jul 2013 10:19

Investec has downgraded its ratings for banking peer HSBC and RBS from 'buy' to 'hold' in separate research reports, reiterating its preference for rival Barclays.HSBCAnalyst Ian Gordon said that while HSBC is not overtly expensive, consensus forecasts for the dividend have "now caught up with our own (positive) view, whereas we regard the market's earnings expectations as still a little frothy".Investec is expecting the firm to report a pre-tax profit of $5.9bn for its second quarter, some 5.0% below the consensus estimate of $6.2bn.Gordon said: "To the extent that we are wrong, we expect Global Banking & Markets to get HSBC 'over the line'. We remain more confident that the market still has downgrades to both the net interest margin and net interest income to factor in."He pointed out that the stock has marginally outperformed the FTSE 100 so far this year and now trades within just 4.0% of its 57-month high.The 740p target price for HSBC has been maintained.RBSFollowing an impressive share price recovery after the stock was "oversold" in June (according to Gordon), RBS is now trading on 0.75 times 2013 tangible net asset value, "which we no longer regard as absurdly cheap - just cheap, and (perhaps) for good reason".The analyst believes that the main reasons for the initial sell-off - the removal of frontman Stephen Hester and the potential of an "ill-conceived" 'good bank'/'bad bank' split - still remain unresolved."However, we caution against adopting any aggressively negative stance on RBS. Constructive near-term solutions are at hand. If the Board were to act decisively and appoint Ross McEwan, who would be our top pick, within the next few weeks, we believe it would help to remove significant strategic uncertainty and perhaps convince shareholders that their interests will be protected."After raising his target price from 335p to 340p due to a strongly recovering UK mortgage market, Gordon said it implies little upside to current prices.BC
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HSBC profits soar 78% but miss forecasts on China exposure

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TOP NEWS: HSBC launches USD2 billion buyback on record annual profit

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UK earnings, trading statements calendar - next 7 days

Thursday 15 February 
Benchmark Holdings PLCQ1 Results
Centrica PLCFull Year Results
MJ Gleeson PLCHalf Year Results
Relx PLCFull Year Results
South32 LtdHalf Year Results
Friday 16 February 
NatWest Group PLCFull Year Results
Segro PLCFull Year Results
TBC Bank Group PLCFull Year Results
Monday 19 February 
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MoneySupermarket.com PLCFull Year Results
Transense Technologies PLCHalf Year Results
Wilmington PLCHalf Year Results
Tuesday 20 February 
Barclays PLCFull Year Results
BHP Group LtdHalf Year Results
Coca-Cola Europacific Partners PLCFull Year Results
Gran Tierra Energy IncFull Year Results
InterContinental Hotels Group PLCFull Year Results
Petra Diamonds LtdHalf Year Results
Springfield Properties PLCHalf Year Results
Wednesday 21 February 
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Conduit Holdings LtdFull Year Results
Glencore PLCFull Year Results
HSBC Holdings PLCFull Year Results
Rio Tinto PLCFull Year Results
Riverstone Credit Opportunities Income PLCFull Year Results
Tate & Lyle PLCTrading Statement
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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