HSBC Upgraded to Buy at BofA on Strong Asia Growth Outlook

Group 1 - HSBC Holdings saw a more than 4% increase in intra-day trading after BofA Securities upgraded the stock to Buy from Neutral, highlighting significant upside potential linked to growth in Hong Kong deposits and Asia-based wealth management [1] - BofA Securities noted that HSBC has competitive advantages in both Hong Kong deposits and wealth management, with management committing to additional investments in these areas [1] - The forecast from BofA indicates that increased resource allocation will enhance HSBC's market positioning and drive share gains [1] Group 2 - BofA's EPS estimates for HSBC in 2026 and 2027 are projected to be 7% to 9% above consensus, driven by higher revenue expectations and an anticipated increase in share repurchases [2] - The expected share repurchase run-rate is projected to return to $2–3 billion per quarter starting in the second quarter [2]