Opinions
Darren Sissons
HSBC Holdings P L C
HSBC-N
DON'T BUY
Mar 04, 2025
$60.150
Stock price when the opinion was issued
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PARTIAL BUY
5 year hold? There are two overhangs right now: Brexit; and Hong Kong (where it is headquartered). He believes both issues will be resolved, but there is still time required. Interest rate declines globally are creating headwinds. He thinks the dividend is relatively safe. It may be a buy here, but it really needs interest rates to rise to grow earnings.
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TOP PICK
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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TRADE
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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A great bank, but prefers other European banks. Not as well run as Canadian banks, and has less growth.