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▲ Goldman Sachs believes HSBC and Standard Chartered stock prices may reach another 20% and the Bank of England will soon allow HSBC and Standard Chartered to resume dividends.
The HSBC HSBC share price (00005) has remained strong recently. Goldman Sachs reported that the Bank of England is expected to announce as soon as next Friday (December 11) that HSBC and Standard Chartered will be able to resume dividends. HSBC and Standard Chartered are expected to pay only 0.1 in the fourth quarter. US dollars, but as profitability and macroeconomic environment improve, HSBC’s dividend is expected to rise to US $ 0.3 and Standard Chartered will rise to US $ 0.25. Goldman Sachs raised HSBC’s target price from 51 yuan to 52 yuan and Standard Chartered’s target price from 54 yuan to 55 yuan.
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HSBC and Standard Chartered both bounced around 50% from their low on September 25, but Goldman Sachs still assigns both a “Buy” rating. I believe the Bank of England decision is good news for both HSBC and Standard Chartered. The resumption of dividends led to the commercialization of the two shares. Considered an investable concept, shares of HSBC and Standard Chartered are expected to still have 20% room to rise.
Photos to see the recent key HSBC news
Goldman Sachs also estimated that both HSBC and Standard Chartered will resume repurchases next year: HSBC is expected to spend $ 1 billion on repurchases and Standard Chartered will spend $ 3.5 billion.
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Publisher: Lai Yiling
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