Bank of America Securities: Upgraded HSBC Holdings (00005.HK) target price to HK$168.8, reiterating a "buy" rating.

According to the Wisdom Financial APP, Bank of America Securities released a research report stating that it reiterated its "buy" rating on HSBC Holdings (00005.HK) and raised its target price from 158.25 Hong Kong dollars to 168.8 Hong Kong dollars due to an increase in profit forecast. HSBC management emphasized its operational network strength at an investor seminar, indicating that HSBC should be able to become a major and natural beneficiary of several structural trends, including wealth management, Chinese companies going global, and RMB internationalization. Importantly, HSBC currently has high profitability, with the bank predicting a return on tangible equity of around 20% by 2028, making it an attractive growth compound investment target.