HSBC
HSBC Holdings plc
HSBC is a London-headquartered global bank founded in Hong Kong in 1865. Its Global Investment Research unit publishes equity, economics and macro strategy research with a particular focus on emerging markets and Asia.
Company history
HSBC was established in Hong Kong in 1865 and incorporated in 1866 as The Hongkong and Shanghai Banking Corporation. HSBC Holdings plc was created in London in 1991 as the group parent, and the 1992 takeover of Midland Bank made it a major UK lender. In January 2025, under chief executive Georges Elhedery, it began winding down M&A and equity capital markets in the UK, Europe and the Americas to concentrate on Asia and the Middle East.
- 1865Founded in Hong Kong as The Hongkong and Shanghai Bank
- 1866Incorporated as The Hongkong and Shanghai Banking Corporation
- 1991HSBC Holdings plc established in London as group parent
- 1992Takes over the UK's Midland Bank
- 2025Winds down Western M&A and ECM; cuts research roles
Research
HSBC Global Investment Research has about 290 analysts and associates in 15 locations producing roughly 1,000 reports, podcasts and videos a month, with equity coverage of more than 1,600 companies (2026). A May 2025 restructuring cut more than two dozen analyst roles, mostly in Europe, and made Eliot Camplisson and Raj Sinha global co-heads of equity research. Since March 2015 it has rated stocks Buy, Hold or Reduce using target-price bands over six to twelve months.
Coverage12M
- Stocks
- 220
- Ratings
- 234
- Price targets
- 232
- Median upside
- +12.7%
- Upgrades
- 82
- Downgrades
- 77
- Initiations
- 7
- Reiterations
- 68
- Targets raised
- 95
- Targets cut
- 46
- Positive48%85
- Neutral44%77
- Negative8%15
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 INTCIntel Corporation | Buy | $200 |
 AMDAdvanced Micro Devices, Inc. | Hold | $340 |
 NVDANVIDIA Corporation | Buy | $325 |
 ABBVAbbVie Inc. | Buy | $315 |
 BIIBBiogen Inc. | Reduce | $175 |
 DLRDigital Realty Trust, Inc. | Buy | $240 |
 LLYEli Lilly and Company | Reduce | $940 |
 NVONovo Nordisk A/S | Hold | $54 |
 EQIXEquinix, Inc. | Buy | $1,400 |
 IQVIQVIA Holdings Inc. | Buy | $240 |
Analysts24M
- Stephen BerseyCSCO · AKAM · ADSK16
- Frank LeeNVDA · AMD · INTC10
- Saul MartinezAXP · COF · BAC8
- Sidharth SahooIQV · UNH · A7
- Wesley BrooksTT · TTAM · CPRT7
- Mohammed KhalloufEA · APP · NFLX6
Recent actions
| Stock | Rating action | Rating | Target | Date |
|---|---|---|---|---|
 Brinker International, Inc.EAT | Downgrade | Hold | Sep 22 | |
 Netflix, Inc.NFLX | Downgrade | Buy →Hold | Sep 22 | |
| BCBicara Therapeutics Inc. Common StockBCAX | Downgrade | Equal-Weight | Sep 22 | |
 AT&T Inc.T | Downgrade | Buy →Reduce | Sep 21 | |
| CCCompañía Cervecerías Unidas S.A.CCU | Downgrade | Buy →Reduce | $10 | Sep 21 |
| KSKS | Initiate | Buy | Sep 21 | |
 Nebius Group N.V.NBIS | Initiate | Outperform | Sep 17 | |
 J.B. Hunt Transport Services, Inc.JBHT | Downgrade | Hold | Sep 17 | |
 Fluence Energy, Inc.FLNC | Downgrade | Hold | Sep 17 | |
| GNGenerac Holdings Inc.GNRC | Downgrade | Hold | $333 | Sep 17 |
Similar coverage12M
References
- HSBC - Wikipediaen.wikipedia.org
- Global Investment Research | HSBCbusiness.hsbc.com
- HSBC Emerging Markets Sentiment Survey (rating disclosures)business.hsbc.com
- HSBC plans biggest investment banking retrenchment in decades - Reutersreuters.com
- HSBC cuts dozens of analyst jobs in investment banking overhaul - The Straits Timesstraitstimes.com
- HSBC cuts back school perk for some Hong Kong bankers - The Business Times (2026)businesstimes.com.sg