HSBC has entered a mild consolidation phase after reaching its 52-week peak of HKD66.70 in Aug-23. It has been rebounding since last Monday and attempted to break HKD61.30 before settling at its current level last Friday. Decent buying momentum has been observed over the last week, coupled with indicators showing uptick momentum, share price is expected to move higher.
Net profit is expected to grow at a CAGR of 15% for the next 3 years with stable net margins of more than 33%.
Source: Rakuten Research - 18 Sep 2023
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Created by rakutentrade | Jul 18, 2024