HSBC
Upgrade grade
C
Downgrade grade
D
HSBC was founded in Hong Kong in 1865 as the Hongkong and Shanghai Banking Corporation, initially serving the growing trade finance needs of British merchants in Asia, though it has since evolved into one of the world's largest banking and financial services groups. Today, HSBC operates globally with significant presence across Europe, Asia-Pacific, and North America, maintaining a substantial equities research operation that has generated over 1,000 analyst ratings on U.S. companies in our database. The firm's research team is particularly respected for coverage of financial services, consumer goods, energy, and materials sectors, reflecting both HSBC's historical trading roots and its current client base of institutional investors seeking multinational company insights. Known for its systematic approach to fundamental analysis and strong relationships with management teams across Europe and Asia, HSBC's equity research carries particular weight among investors seeking exposure to international growth stories and cross-border market dynamics.
Upgrades
358
70.39% win rate
· avg +1.62% D1
Downgrades
312
60.58% win rate
· avg -1.08% D1
Avg Gap — Upgrades
+1.54%
open vs prev close
Avg Gap — Downgrades
-1.24%
open vs prev close
Performance by Sector
| Sector | ↑ Win% | ↑ D1 | ↓ Win% | ↓ D1 |
|---|---|---|---|---|
| Basic Materials | 67.80% (59) | +1.17% | 61.90% (63) | -1.28% |
| Technology | 74.60% (63) | +2.12% | 51.06% (47) | -0.73% |
| Energy | 74.36% (39) | +1.42% | 57.14% (42) | -1.59% |
| Consumer Cyclical | 62.50% (32) | +1.65% | 70.59% (34) | -1.48% |
| Financial Services | 60.00% (35) | +0.24% | 44.83% (29) | -0.10% |
| Communication Services | 70.59% (34) | +2.54% | 60.71% (28) | -0.61% |
| Healthcare | 65.52% (29) | +1.40% | 73.68% (19) | -1.46% |
| Industrials | 91.67% (24) | +2.56% | 68.42% (19) | -1.47% |
| Consumer Defensive | 70.83% (24) | +1.56% | 75.00% (16) | -0.96% |
| Utilities | 66.67% (12) | +1.11% | 60.00% (10) | -0.15% |
Win Rate by Year
| Year | ↑ Win% | ↑ Calls | ↓ Win% | ↓ Calls |
|---|---|---|---|---|
| 2026 | 61.9% | 21 | 80.0% | 10 |
| 2025 | 66.0% | 50 | 59.5% | 37 |
| 2024 | 81.3% | 48 | 51.9% | 52 |
| 2023 | 87.0% | 23 | 66.7% | 18 |
| 2022 | 72.0% | 25 | 45.5% | 11 |
| 2021 | 62.5% | 32 | 65.2% | 23 |
| 2020 | 35.0% | 20 | 34.6% | 26 |
| 2019 | 73.3% | 15 | 66.7% | 27 |
| 2018 | 71.9% | 32 | 91.7% | 12 |
| 2017 | 87.5% | 16 | 71.4% | 14 |
Recent Calls
| Date | Ticker | Company | Sector | Action | Grade Change | PT | Gap | D1 |
|---|---|---|---|---|---|---|---|---|
| May 1, 2026 | RBLX | Roblox Corporation | Technology | Downgrade | Buy → Hold | — | -23.3% | -18.3% |
| Apr 28, 2026 | IBM | International Business Machines Corporation | Technology | Upgrade | Reduce → Hold | — | +1.1% | +2.2% |
| Apr 27, 2026 | EQIX | Equinix, Inc. | Real Estate | Maintains | Buy → Buy | — | -0.4% | -1.7% |
| Apr 27, 2026 | DLR | Digital Realty Trust, Inc. | Real Estate | Downgrade | Buy → Hold | $210 | -0.5% | -1.8% |
| Apr 24, 2026 | LUV | Southwest Airlines Co. | Industrials | Upgrade | Reduce → Hold | $36 | +0.7% | +4.5% |
| Apr 23, 2026 | OKLO | Oklo Inc. | Utilities | Initiates | Buy | $96 | +7.3% | +5.6% |
| Apr 23, 2026 | SMR | NuScale Power Corporation | Utilities | Initiates | Hold | $13 | +3.4% | -6.3% |
| Apr 23, 2026 | TEL | TE Connectivity Ltd. | Technology | Downgrade | Buy → Hold | $234 | -1.5% | -1.5% |
| Apr 22, 2026 | SAP | SAP SE | Technology | Upgrade | Hold → Buy | — | -1.5% | -1.4% |
| Apr 21, 2026 | INTC | Intel Corporation | Technology | Upgrade | Hold → Buy | $95 | +2.2% | +0.9% |
| Apr 16, 2026 | OMAB | Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. | Industrials | Upgrade | Hold → Buy | — | +2.3% | +0.7% |
| Apr 13, 2026 | NKE | NIKE, Inc. | Consumer Cyclical | Downgrade | Buy → Hold | — | -0.9% | +0.7% |
| Apr 8, 2026 | UGP | Ultrapar Participações S.A. | Energy | Downgrade | Buy → Hold | — | +0.3% | -1.7% |
| Mar 30, 2026 | CCL | Carnival Corporation & plc | Consumer Cyclical | Upgrade | Hold → Buy | — | +0.8% | -1.0% |
| Mar 20, 2026 | OXY | Occidental Petroleum Corporation | Energy | Maintains | Buy → Buy | — | +0.2% | +1.9% |
| Mar 20, 2026 | BP | BP p.l.c. | Energy | Upgrade | Reduce → Hold | — | -1.1% | -2.4% |
| Mar 20, 2026 | ARM | Arm Holdings plc American Depositary Shares | Technology | Upgrade | Reduce → Buy | — | +5.5% | +1.9% |
| Mar 20, 2026 | XOM | Exxon Mobil Corporation | Energy | Maintains | Hold → Hold | — | +0.8% | +1.0% |
| Mar 17, 2026 | BIIB | Biogen Inc. | Healthcare | Maintains | Reduce → Reduce | — | +0.8% | +1.1% |
| Mar 17, 2026 | BMY | Bristol-Myers Squibb Company | Healthcare | Maintains | Hold → Hold | — | +0.7% | +0.0% |
| Mar 17, 2026 | PFE | Pfizer Inc. | Healthcare | Maintains | Buy → Buy | — | +0.8% | +3.2% |
| Mar 17, 2026 | JNJ | Johnson & Johnson | Healthcare | Maintains | Buy → Buy | — | +0.2% | -2.1% |
| Mar 17, 2026 | LLY | Eli Lilly and Company | Healthcare | Downgrade | Hold → Reduce | — | -1.0% | -5.9% |
| Mar 13, 2026 | NIO | NIO Inc. | Consumer Cyclical | Upgrade | Hold → Buy | — | +4.0% | +5.6% |
| Mar 12, 2026 | PAM | Pampa Energía S.A. | Utilities | Upgrade | Hold → Buy | — | +3.0% | -2.8% |