Accueil > Actualité
Actualite financiere : Actualite bourse

HSBC: Berenberg downgrades to 'sell' on lower rates

(CercleFinance.com) - Berenberg on Tuesday downgraded the HSBC share from "hold" to "sell," saying that the British banking giant is fighting "too many battles.
"

"HSBC's new strategy appears well intended but poorly timed," the German broker wrote in a note.

As recent growth has relied on cyclical tailwinds, lower rates create a material headwind, Berenberg added, also cutting its target price from 700 pence to 490 pence.

The broker said that given trade and political tensions in HSBC's key markets, volume growth of about 4% is required to meet the consensus, which, given rate headwinds, is unrealistic, at least from its point of view.

The HSBC share seemed pretty immune to these comment on Tuesday morning, with the share staying afloat and actually rising 0.2% at 597.5 pence.

Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
 

societes

marches

tendances

 
Qui sommes-nous ? | Nous contacter | FAQ | Mentions légales | RSS | © Copyright 2007 Cercle Finance. Tous droits réservés.
Indices et cours différés d’au moins 15 mn | Cotations boursières fournies par ABC Bourse.