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Investing.com - Erste Group upgraded HSBC Holdings (NYSE:HSBC) from Hold to Buy on Thursday following the bank’s strong third-quarter performance. The banking giant has seen impressive momentum with a 57.83% price return over the past year and a 47.52% gain year-to-date, according to InvestingPro data.
The upgrade comes after HSBC demonstrated it remains on track to achieve its cost growth target of approximately 3% year-over-year in 2025, according to Erste Group’s analysis.
Based on the positive Q3 results, HSBC has raised its forecast for net interest income in the banking business for the full year 2025 to at least USD 43 billion.
The banking giant has also increased its target for return on equity, which is now expected to reach at least 15% in 2025.
Erste Group’s upgrade reflects growing confidence in HSBC’s financial outlook and its ability to meet or exceed its revised performance targets for the year.
In other recent news, HSBC Holdings reported strong third-quarter 2025 results, with profit before tax excluding notable items coming in 9% above analyst forecasts. This performance led BofA Securities to raise its price target for HSBC to GBP11.60, while maintaining a Neutral rating. Meanwhile, Jefferies downgraded HSBC from Buy to Hold, citing limited upside potential after the cancellation of $8.5 billion in planned share buybacks. Despite the downgrade, Jefferies increased its price target for HSBC to GBP11.20 from GBP9.60. Additionally, HSBC revised its forecasts for 10-year German Bund yields upward, reflecting a reduced probability of European Central Bank rate cuts. The bank now anticipates Bund yields to reach 2.70% by the end of 2025 and 2.85% by the end of 2026. In another development, HSBC Bank plc announced plans to delist its Zero Coupon Callable Accreting Notes from the New York Stock Exchange and seek a listing on Euronext Dublin. This move aims to simplify the bank’s reporting obligations as part of a broader strategy to end its U.S. debt securities issuance program.
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