Nomura has retained its 'buy' rating and 850p target price for global banking group HSBC following Monday's better-than-expected third-quarter figures.In its 'First Look' report on the results, the broker said that the bank's figures were "cleaner" than usual with just five one-off factors to take into account.Nevertheless, 'clean' underlying revenue came in at $15,571m, ahead of the consensus estimate of $15,335m and Nomura's forecast of $15,145m. Meanwhile, the clean underlying profit before tax was $5,809m (consensus: $5,535m, Nomura: $5,509m).The broker highlighted HSBC's Basel 3 core tier-1 capital ratio of 10.6%, which came in ahead of its 10.4% forecast and helps to "contain concerns on capital".Nomura explained that market expectations on capital repatriation have been pushed back for all banks, not just HSBC. "It will be interesting to see HSBC's response to higher capital requirements, especially given its global footprint and the disadvantage it would pose to competitiveness in jurisdiction with lower capital ratios. "However, the stock has already priced in these concerns as can be seen from its recent underperformance."The stock was up 2.47% at 704.3p in morning trade on Monday.BC