Analysts advise clients to sell HSBC shares

HSBC sign

Analysts at HSBC’s house broker have advised clients to sell the shares of the lender, warning of the risks to the bank from a slowdown in Asia.

The Daily Telegraph reports that Credit Suisse, which is one of two corporate brokers to HSBC, said it rated the bank’s shares as ‘underperform’, equivalent to a ‘sell’ rating, and cut its price target by 200p to 580p.

The cut in the bank’s rating came as the Credit Suisse analysts warned about the outlook for the business, citing the risks to it from 'weakening' Asian markets, as well as what they described as UK “regulatory inflation".

In a report titled, A long wait, a smaller reward, the analysts set out a series of concerns over the future of HSBC and said they were “disappointed” that the bank had been 'unable to capitalise on its strengths' and cut their dividend forecasts 'significantly'.

To access the complete Daily Telegraph article hit the link below:

HSBC house broker downgrades bank's shares to 'sell'

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