Credit Suisse lowered target prices on U.K. banks and downgraded HSBC /zigman2/quotes/208272822/composite HSBC -1.52% /zigman2/quotes/203901799/delayed UK:HSBA -1.17% to neutral from outperform. On HSBC, where the target price is now 515 pence, Credit Suisse said the bank has outperformed its U.K. peers by 20 percentage points year-to-date and has a premium valuation. Credit Suisse's new RBS target price is 175 pence, and it has an outperform rating due to its 16.9% CET1 ratio and limited unsecured credit exposure. It's still underperform on Standard Chartered /zigman2/quotes/200125072/delayed UK:STAN -2.66% with a 395 pence target given higher emerging market credit risk and lower core profitability. It's neutral on Barclays /zigman2/quotes/208409333/delayed UK:BARC -1.42% , with a 125 pence target, and Lloyds /zigman2/quotes/202285510/delayed UK:LLOY +0.57% , with a 40 pence target.