As high inflation appears to be waning, a long-neglected set of stocks stands to benefit as consumers settle into a "new normal" of spending, according to HSBC. The investment bank's latest consumer survey suggests positive signs amid the economic uncertainty of the past two years. Inspired by the survey results, HSBC named two companies it sees benefiting from these emerging consumer trends: French video game giant Ubisoft and Swiss travel retailer Avolta . Ubisoft HSBC said its research pointed to resilient consumer spending on video games, which will benefit video game developer Ubisoft . The bank has a buy rating on the stock with a price target of 35 euros ($37.90), representing more than 85% upside from the current share price of around 18.84 euros.

---

Persons: Paul Rossington, Pankaj Agarwala, Michael Bloom Organizations: HSBC, Ubisoft, Avolta, Ubisoft HSBC, Mar, AAA, U.S Locations: Swiss, U.S