Mine does at 1600mm (Raynox converter)
I shot this Little Egret hand held in a terrible hurry as when I saw it in the gloom through the drizzle I thought it was the Spoonbill we have visiting.
Not much of a picture but I was surprised that the camera captured it at all as i was leaning over a wall in a gale and I've only had the camera for two days.
So far I'm very impressed - I also own a Samsung WB650, Canon SX1IS, Nikon D70 (ton of lenses) and a Fuji S8000fd.
What I don't like are....the plastic tripod thread, the dreadful electronic view finder, the obtuse menu system, face detection, dog detection - bird detection would have been nice - not necessarily a database of them but a stab at a bird shape to help focusing.
What I like is the manual zoom, the EXR modes, the weight, AA batteries (I'm on Eneloops), front thread, Provia & Velvia modes (how cute).
When I read the review and saw EVF/LCD switching I didn't think I'd like it but it works just like my Smartphone proximity sensor and is quite useful.
When I bought the camera I was prepared for the usual - it's got amazing zoom but the noise is horrendous - when got the SX1IS I was more amazed by it's video quality than it's stills performance and despite it's longer reach than the S8000 it's typical slow motor zoom made it frustrating for birding when the little darlings are flitting around.
The HS20 has terrific reach, great useability, low noise but is a bit 'cheap' - however it doesn't cost a lot for what it does.
If we get any fine weather I wan't to find a Bumble Bee (or anything that flaps quickly) and shoot it in slo-mo video as that's something quite new to me.