HSBC: stock jumping thanks to broker upgrade.
(CercleFinance.com) - The HSBC stock is jumping 4.
7% in London today, boosted by Morgan Stanley's upgrade from "equal weight" to "overweight", with an increased target price of 850 pence (vs. 745 pence).
"We expect the narrative on HSBC to flip from prior concerns on the dividend to a debate on how to deploy excess capital," the broker stated.
Morgan Stanley sees actions to control risk-weighted assets as an underappreciated driver of capital build and sees room for a 20% cash yield over the next three years.
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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.
7% in London today, boosted by Morgan Stanley's upgrade from "equal weight" to "overweight", with an increased target price of 850 pence (vs. 745 pence).
"We expect the narrative on HSBC to flip from prior concerns on the dividend to a debate on how to deploy excess capital," the broker stated.
Morgan Stanley sees actions to control risk-weighted assets as an underappreciated driver of capital build and sees room for a 20% cash yield over the next three years.
Copyright (c) 2017 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.