This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Banks p4
HSBC (HSBA)
Here in the UK, the big news in February was HSBC (HSBA) deciding to remain domiciled in the UK rather than returning to Hong Kong. While the shares had already found support at near 7yr lows 420p on Friday 12 Feb, the news reinforced support with a message of faith in both the UK economy and the City of London, helping deliver a little sector optimism. With shares having fared worse than peers, re-visiting levels last seen in 2009, does HSBC represent the best recovery potential of the three?
Will shares fall towards crisis lows of 373p or recover towards 938p highs?
Broker Consensus: 39% Buy, 47% Hold, 14% Sell
Average 12-month target price: 548.74p, +22%
FY 2015 Results: 22 February
All pricing and consensus data from Bloomberg on 16 Feb; Consensus breakdown available on request
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Prepared by Michael van Dulken, Head of Research
