HSBC Holdings (LON:HSBA) - No longer HSBC ‘holdings’
Aug 03rd 2012 - Edison Investment Research today published a report on HSBC Holdings (HSBA.L, LSE:HSBA, LON:HSBA) entitled "No Longer HSBC ‘holdings’". In summary, the report says:
HSBC has traditionally been viewed as a defensive stock in the banking sector, outperforming in difficult periods but lagging in good times. The new management line up since the start of 2011 is pursuing a strategic programme to refocus the bank on faster-growing geographies served by efficient global businesses. The business is being shaped around two key trends: the continuing growth of international trade and capital flows, and wealth creation, particularly in faster-growing markets. Ultimately, the aim is to lift growth, lower costs and better manage capital. If successful, this will lift earnings and dividends, and should help HSBC to throw off the ‘conglomerate discount’ that it has often suffered in the past. Progress with business re-alignment and cost reduction...
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