HSBC Stock Recommendations and Price Targets

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions. This segment serves personal banking and high net worth individuals. The Commercial Banking segment provides credit and lending, treasury management, payment, cash management, commercial insurance, and investment services; commercial cards; international trade and receivables finance services; foreign exchange products; capital raising services on debt and equity markets; and advisory services. It serves small and medium sized enterprises, mid-market enterprises, and corporates. The Global Banking and Markets segment offers financing, advisory, and transaction services; and credit, rates, foreign exchange, equities, money markets, and securities services; and engages in principal investment activities. It serves government, corporate and institutional clients, and private investors. HSBC Holdings plc was founded in 1865 and is headquartered in London, the United Kingdom.

This is a list of recent ratings by HSBC.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
12/7/2023	AA Alcoa	Initiated Coverage	$25.00	$29.00	Hold	Low
12/6/2023	ASAN Asana	Downgrade	$19.00	$18.00	Hold ➝ Reduce	Low
12/6/2023	MKKGY Merck KGaA	Downgrade	$31.00		Buy ➝ Hold	Low
12/4/2023	CHPT ChargePoint	Initiated Coverage	$2.00	$2.00	Hold	Low
12/4/2023	GM General Motors	Initiated Coverage	$34.00	$41.30	Buy	Low
12/4/2023	F Ford Motor	Initiated Coverage	$11.00	$11.30	Hold	Low
12/4/2023	GT Goodyear Tire & Rubber	Initiated Coverage	$14.00	$16.80	Buy	Low
12/4/2023	QS QuantumScape	Initiated Coverage	$7.00	$4.70	Reduce	Low
12/4/2023	CPRT Copart	Initiated Coverage	$48.00	$51.00	Hold	Low
12/4/2023	SCT Softcat	Upgrade	GBX 1,295	GBX 1,540	Buy	N/A
12/1/2023	DLR Digital Realty Trust	Initiated Coverage	$134.00	$112.00	Reduce	Low
12/1/2023	EQIX Equinix	Initiated Coverage	$810.00	$875.00	Buy	Low
11/30/2023	TAP Molson Coors Beverage	Initiated Coverage	$62.00	$68.00	Hold	Low
11/28/2023	EL Estée Lauder Companies	Initiated Coverage	$136.00	$180.00	Buy	Low
11/28/2023	BRBY Burberry Group	Lower Price Target	GBX 1,484	GBX 2,200 ➝ GBX 1,750	Hold	N/A
11/24/2023	FMS Fresenius Medical Care AG & Co. KGaA	Upgrade	$20.00		Reduce ➝ Hold	Low
11/24/2023	LIN Linde	Boost Price Target	$399.00	$440.00 ➝ $447.00	Buy ➝ Buy	Low
11/20/2023	CAT Caterpillar	Initiated Coverage	$257.00	$250.00	Hold	Low
11/17/2023	ISRG Intuitive Surgical	Initiated Coverage	$312.00	$318.00	Buy	Low
11/16/2023	ATUS Altice USA	Downgrade	$2.00	$4.00 ➝ $1.20	Buy ➝ Reduce	Low
11/14/2023	AU AngloGold Ashanti	Upgrade	$18.00		Reduce ➝ Hold	Low
11/14/2023	HMY Harmony Gold Mining	Upgrade	$6.00		Reduce ➝ Hold	Low
11/13/2023	TSP TuSimple	Downgrade	$1.00		Hold ➝ Reduce	Low
11/9/2023	BUD Anheuser-Busch InBev SA/NV	Upgrade	$63.00		Hold ➝ Buy	Low
11/9/2023	TSLA Tesla	Initiated Coverage	$243.00	$146.00	Reduce	Low
11/8/2023	TELDF Telefónica Deutschland	Upgrade	$2.00		Reduce ➝ Hold	Low
11/6/2023	BIRK Birkenstock	Initiated Coverage	$47.00	$42.00	Hold	Low
11/6/2023	FTNT Fortinet	Reiterated Rating	$51.00	$75.00 ➝ $49.00	Buy ➝ Hold	Low
11/6/2023	SEDG SolarEdge Technologies	Downgrade	$80.00	$243.00 ➝ $80.00	Buy ➝ Hold	Low
11/3/2023	MRNA Moderna	Upgrade	$80.00	$89.00 ➝ $69.00	Reduce ➝ Hold	Low
11/2/2023	AMZN Amazon.com	Initiated Coverage	$147.00	$160.00	Buy	Low
11/1/2023	CIG CEMIG	Upgrade	$2.00	$2.90	Hold ➝ Buy	Low
11/1/2023	CICOF COSCO SHIPPING	Downgrade	$1.00		Buy ➝ Hold	Low
10/31/2023	SNN Smith & Nephew	Upgrade	$26.00		Hold ➝ Buy	Low
10/27/2023	BMY Bristol-Myers Squibb	Upgrade	$50.00	$55.00 ➝ $53.00	Reduce ➝ Hold	Low
10/27/2023	CCU Compañía Cervecerías Unidas	Downgrade	$13.00	$20.00 ➝ $11.70	Buy ➝ Hold	Low
10/27/2023	INTC Intel	Upgrade	$42.00	$27.00 ➝ $33.00	Reduce ➝ Hold	Low
10/27/2023	CCU Compañía Cervecerías Unidas	Upgrade	$13.00	$18.00 ➝ $15.00	Hold ➝ Buy	Low
10/27/2023	ENPH Enphase Energy	Downgrade	$107.00	$86.00	Buy ➝ Hold	Low
10/26/2023	MSFT Microsoft	Upgrade	$371.00	$347.00 ➝ $413.00	Hold ➝ Buy	Low
10/26/2023	RBGLY Reckitt Benckiser Group	Downgrade	$13.00		Buy ➝ Hold	Low
10/24/2023	BLDP Ballard Power Systems	Upgrade	$4.00	$4.50	Hold ➝ Buy	Low
10/24/2023	BE Bloom Energy	Lower Price Target	$14.00	$22.00 ➝ $20.00	Buy ➝ Buy	Low
10/24/2023	CSAN Cosan	Upgrade	$14.00		Reduce ➝ Hold	Low
10/23/2023	BKNG Booking	Initiated Coverage	$3,238.00	$3,650.00	Buy	Low
10/23/2023	CHH Choice Hotels International	Initiated Coverage	$112.00	$131.00	Hold	Low
10/23/2023	EXPE Expedia Group	Initiated Coverage	$144.00	$114.00	Hold	Low
10/23/2023	HLT Hilton Worldwide	Initiated Coverage	$170.00	$191.00	Buy	Low
10/23/2023	HST Host Hotels & Resorts	Initiated Coverage	$18.00	$21.00	Buy	Low
10/23/2023	H Hyatt Hotels	Initiated Coverage	$121.00	$133.00	Buy	Low
10/23/2023	MAR Marriott International	Initiated Coverage	$208.00	$233.00	Buy	Low
10/23/2023	MGM MGM Resorts International	Initiated Coverage	$40.00	$49.00	Buy	Low
10/23/2023	PK Park Hotels & Resorts	Initiated Coverage	$15.00	$13.00	Hold	Low
10/23/2023	RCL Royal Caribbean Cruises	Initiated Coverage	$119.00	$115.00	Buy	Low
10/23/2023	SVC Service Properties Trust	Initiated Coverage	$8.00	$8.00	Hold	Low
10/23/2023	WH Wyndham Hotels & Resorts	Initiated Coverage	$78.00	$87.00	Buy	Low
10/23/2023	WYNN Wynn Resorts	Initiated Coverage	$83.00	$111.00	Buy	Low
10/20/2023	TIGO Millicom International Cellular	Reiterated Rating	$17.00	$20.00 ➝ $17.00	Buy ➝ Hold	Low
10/20/2023	AMX América Móvil	Upgrade	$18.00	$21.50	Hold ➝ Buy	Low
10/16/2023	BNTX BioNTech	Downgrade	$102.00	$124.00 ➝ $111.00	Buy ➝ Hold	Low
10/13/2023	SYF Synchrony Financial	Initiated Coverage	$35.00	$32.00	Hold	Low
10/13/2023	COF Capital One Financial	Initiated Coverage	$115.00	$84.00	Reduce	Low
10/13/2023	DFS Discover Financial Services	Initiated Coverage	$102.00	$104.00	Buy	Low
10/13/2023	SQ Block	Initiated Coverage	$68.00	$46.00	Hold	Low
10/13/2023	PYPL PayPal	Initiated Coverage	$58.00	$69.00	Buy	Low
10/13/2023	MA Mastercard	Initiated Coverage	$413.00	$424.00	Hold	Low
10/13/2023	V Visa	Initiated Coverage	$256.00	$266.00	Hold	Low
10/13/2023	AXP American Express	Initiated Coverage	$169.00	$181.00	Buy	Low
10/13/2023	PBR Petróleo Brasileiro S.A. - Petrobras	Upgrade	$14.00		Hold ➝ Buy	Low
10/13/2023	KLPEF Klépierre	Downgrade	$25.00		Buy ➝ Hold	Low
10/13/2023	DG Dollar General	Upgrade	$132.00	$102.00	Reduce ➝ Hold	Low
10/11/2023	GLNCY Glencore	Upgrade	$11.00		Hold ➝ Buy	Low
10/10/2023	BAYRY Bayer Aktiengesellschaft	Upgrade	$9.00		Reduce ➝ Hold	Low
10/10/2023	COIHY Croda International	Downgrade	$30.00		Buy ➝ Hold	Low
10/10/2023	VTSCY Vitesco Technologies Group Aktiengesellschaft	Downgrade	$20.00		Buy ➝ Hold	N/A
10/10/2023	SFOSF Shanghai Fosun Pharmaceutical (Group)	Downgrade	$2.00		Buy ➝ Hold	Low
10/9/2023	ARM ARM	Initiated Coverage	$62.00	$57.00	Hold	Low
10/9/2023	BABA Alibaba Group	Lower Price Target	$72.00	$142.00 ➝ $135.00		Low
10/6/2023	DHLGY Deutsche Post	Upgrade	$49.00		Hold ➝ Buy	Low
10/6/2023	STZ Constellation Brands	Boost Price Target	$236.00	$280.00 ➝ $290.00	Buy ➝ Buy	Low
10/6/2023	WZZZY Wizz Air	Upgrade	$6.00		Reduce ➝ Hold	Low
10/6/2023	HLBZF Heidelberg Materials	Upgrade	$80.00		Hold ➝ Buy	Low
10/6/2023	BX Blackstone	Initiated Coverage	$114.00	$113.00	Hold	Low
10/6/2023	BAM Brookfield Asset Management	Initiated Coverage	$36.00	$39.00	Buy	Low
10/5/2023	BZZUY Buzzi	Upgrade	$14.00		Hold ➝ Buy	Low
10/5/2023	HDELY Heidelberg Materials	Upgrade	$17.00		Hold ➝ Buy	Low
10/4/2023	AZLGF Azelis Group	Downgrade	$23.00		Buy ➝ Hold	Low
10/4/2023	BNTGY Brenntag	Downgrade	$17.00		Buy ➝ Hold	Low
10/4/2023	TKYVY Türkiye Vakiflar Bankasi Türk Anonim Ortakligi	Upgrade	$4.00		Hold ➝ Buy	Low
10/2/2023	SAUHY Straumann	Upgrade	$13.00		Reduce ➝ Hold	Low
9/29/2023	BMXMF bioMérieux	Upgrade	$107.00		Hold ➝ Buy	Low
9/29/2023	ERFSF Eurofins Scientific	Downgrade	$59.00		Buy ➝ Hold	Low
9/29/2023	ILMN Illumina	Lower Price Target	$117.00	$230.00 ➝ $171.00		Low
9/29/2023	QGEN Qiagen	Lower Price Target	$42.00	$64.00 ➝ $57.00		Low
9/29/2023	FDX FedEx	Initiated Coverage	$268.00	$330.00	Buy	Low
9/29/2023	UPS United Parcel Service	Initiated Coverage	$156.00	$170.00	Hold	Low
9/29/2023	ADBE Adobe	Initiated Coverage	$609.00	$519.00	Hold	Low
9/29/2023	AKAM Akamai Technologies	Initiated Coverage	$115.00	$106.00	Hold	Low
9/29/2023	ADSK Autodesk	Initiated Coverage	$224.00	$214.00	Hold	Low
9/29/2023	FICO Fair Isaac	Initiated Coverage	$1,118.00	$729.00	Reduce	Low