Is HSBC a Good Stock to Buy Now?

HSBC is one of the biggest, strongest, and most popular banks in the world. The bank is UK-based, and while the UK has been in a recession, it is now showing signs of improvement.

The stock fell quite heavily after the earnings report. Additionally, the decline in the Japanese market impacted HSBC as a sympathy play.

Currently, the company is trading with a P/E ratio of 6.8, which is reasonable for a bank. The dividend yield is 7.61%, which is attractive, especially during challenging economic times. The price target for the stock is 56, which is approximately 40% above the current level. You can check more details here

This is not financial advice, but we are buyers at this level. If the stock drops in the near future, we will add more to our position.

Result:

+10% in money as of 27.08.2024

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