HSBC Raises S&P 500 Target to 8,100, Citing Earnings Surge

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โดย GuruFocus·US·Read original
Summary · why it matters

HSBC Holdings has raised its year-end S&P 500 target to 8,100 from 7,650, implying roughly 4.9% upside from the index's previous close. The 450-point upgrade, a 5.9% increase, is based on expectations that S&P 500 earnings per share will surge more than 25% in the second half, following a strong first half where 86% of reporting companies beat quarterly estimates, well above the historical rate of about 67.5%. HSBC's own first-half results reinforced this bullish stance, with revenue rising 11% to $37.7 billion and reported pretax profit jumping 23% to $19.5 billion. However, the bank's U.S. shares, which edged lower to $107.08, trade 68.47% above their GF Value estimate of $63.56, and with the S&P 500 already up 12.75% this year, the market has left little room for disappointment.

Impact on stocks 1

Financials▲ · 1 stocks
HSBC Holdings PLC
HSBA
▲ PositiveCapitalrelevance

HSBC raised its S&P 500 target and reported strong earnings, reinforcing a bullish outlook.

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