NEW YORK ( TheStreet) - HSBC's (HBC) plans to unload its U.S. consumer and credit card business too little, too late and gives its more aggressive competitors a head start towards decent profitability, according to one industry analyst.
"HSBC management has set the bar very low for its own performance benchmark. To justify the current stock price, they must significantly outperform these goals," said Miller Tabak + Co. analyst Thomas Mitchell in a note. "These do not look like tremendously ambitious goals."
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