Citi cuts HSBC to Neutral from Buy after 40% year-to-date rally
HSBC HSBC Holdings plc ADR
$106.04 -1.69%
차트·분석 보기 → - 1Citi downgraded its rating on HSBC Holdings (HSBC) from Buy to Neutral.
- 2Following a 40% gain since the start of the year, the bank lowered its price target from 1,640 pence to 1,570 pence and cut its EPS estimates by up to 3%.
- 3The firm views the move as a pause to catch its breath rather than a sign of trouble, and believes further re-rating will require an acceleration in revenue growth, which is likely to take time.
This 3-line summary is compiled from the report below.
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