Opinions
Robert Lauzon
HSBC Holdings P L C
HSBC-N
BUY
Oct 25, 2019
It has been flat lining lately. It could be a good buy here again as it wants to re-trade back to $42. He sees about a 15% return for this one. A one stop global bank.
$39.520
Stock price when the opinion was issued
banks
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It had the BREXIT overhang as well as the Hong Kong overhang. It has had a remarkable recovery. He thinks there is upside here. You can buy it here and just leave it for a while and it will continue to grow. It has raised its dividend for the last 15 years. They could always move their head quarters to Singapore. The political overhang is somewhat of a nonsense story because the income is coming from surrounding countries. It is providing an entry point. (Analysts’ price target is $45.82)
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It is a great bank if you want to be in Asia. The problem like many British and European banks is that they could not decide if they wanted to be in certain markets. They bought and built up certain businesses and did not do very well at those. They are a good retail bank and a very good commercial bank. They help companies grow in Asia and the US. Hong Kong will not be an opportunity for them now. It's not an expensive stock but they need to decide what they want to be.
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