Goldman Sachs: Raises HSBC Holdings (00005.HK) target price to HKD 193 and expects to buy back USD 1.5 billion in the third quarter.

According to the Zhitong Finance APP, Goldman Sachs released a research report stating that HSBC Holdings (00005.HK) achieved a basic pre-tax profit of USD 10.3 billion in the third quarter, which is higher than the company's own market expectations but roughly in line with Goldman Sachs' expectations. Non-net interest income was better than expected, costs met expectations, and provisions were slightly lower than expected. Goldman Sachs raised its target price for HSBC's London shares from 1,752 pence to 1,860 pence, and increased the target price for HSBC's Hong Kong shares from HKD 181 to HKD 193, mainly reflecting changes in forecasts. The rating is maintained as "Buy."