Barclays analysts have said HSBC “never had it so good” as they predicted further growth and upsides for the FTSE 100 lender.
Following the lender’s strong full-year performance, the analysts upgraded HSBC’s share price target by 28 per cent to 1,200p.
The lender pocketed a pre-tax profit of £25.6bn in 2024, up from £24bn in 2023.
The Barclays analysts said profit would come in ahead of company-compiled profit estimates for 2025, predicting a £24.6bn pre-tax profit.
They added net interest income was expected to grow despite the Bank of England slashing rates, with it set to benefit from volume growth and a boost in its structural hedge.
Analysts Aman Rakkar and Grace Dargan said HSBC’s updated strategy helped the firm deliver on a number of fronts.
They said the new plans will “likely see HSBC enter a new era for sustainable return on tangible equity.”
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