08:22 AM EDT, 10/27/2026 (MT Newswires) -- BofA Global Research updated its price objective and forecasts for HSBC (HSBA.L) after the UK-based banking group delivered a "soft" set of third-quarter results. "PBT ex notable items was in line, but within this income missed consensus by c.2%, driven by lower [net interest income] and Wealth fee income, largely offset by better impairments. Cost was in line. All main targets and guidance for the year are reiterated," analysts said Tuesday. "On capital, management announced a 10c dividend and a $1bn buyback, in line with consensus. CET1 print 13.9% was below consensus 14.1%, but management gave new guidance on Basel 3.1, which they now expect to deliver a positive impact of c.40-50bps, effective from 1 Jan 2027." Taking this into consideration, the research firm reduced the stock's price objective to 16.85 pounds sterling from 17.20 pounds. Earnings forecasts for 2026 through 2028 were also revised, including lower underlying profit before tax and EPS estimates over the three-year period. "Despite a weaker print today, we continue to see value in HSBC's franchise strength and expect it to benefit from the structural growth trend in Asia," BofA added, reaffirming the buy rating on the stock.

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