Analysts Upgrade HSBC Bank

Analysts have upgraded HSBC to £8.80 per share from £7.04. The bank is currently trading at £6.34 making it undervalued

Michael Wong, CPA 30 October, 2018 | 7:47AM

HSBC bank banking analyst upgrade financial sector UK

Analysts have upgraded HSBC to £8.80 per share from £7.04 following a solid third-quarter result. The bank is currently trading at £6.34 making it undervalued – considered a four-star stock by Morningstar equity analysts.

There is no change to the narrow economic moat rating, meaning analysts consider it have a small and stable competitive advantage over banking peers. The bank maintains a dominant position in Hong Kong and benefits from funding cost advantage with deposit market share of 20%.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
HSBC Holdings PLC377.80 GBX1.21

About Author

Michael Wong, CPA  Michael Wong is a stock analyst at Morningstar.

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