Fly News Breaks for December 11, 2019
Dec 11, 2019 | 20:13 EDT
BofA/Merrill analyst Alastair Ryan upgraded HSBC to Buy from Neutral with a 6.50 GBp price target. The analyst expects the company's downsizing of equity, advisory, and fixed income assets to deliver a refocused company that is stepping away from businesses where it is not the leader while still protecting its growth in Asia. Ryan adds that HSBC's "short-dated and liquid book" should help keep its exit costs low.
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