Deutsche Bank Aktiengesellschaft Reaffirms “Buy” Rating for Standard Chartered (LON:STAN)

Standard Chartered (LON:STAN)‘s stock had its “buy” rating restated by investment analysts at Deutsche Bank Aktiengesellschaft in a report released on Thursday, Digital Look reports. They currently have a GBX 2,450 price target on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft‘s price objective points to a potential upside of 15.19% from the stock’s current price.

A number of other brokerages have also recently commented on STAN. JPMorgan Chase & Co. raised their target price on Standard Chartered from GBX 2,330 to GBX 2,470 and gave the stock an “overweight” rating in a report on Tuesday, September 8th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 3,040 price target on shares of Standard Chartered in a report on Thursday, October 15th. Finally, Citigroup increased their target price on Standard Chartered from GBX 2,230 to GBX 2,370 and gave the company a “neutral” rating in a research report on Wednesday, September 23rd. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 2,492.

Standard Chartered Stock Up 2.9%

Shares of LON:STAN traded up GBX 59 on Thursday, hitting GBX 2,127. 90,686,555 shares of the company traded hands, compared to its average volume of 37,213,262. Standard Chartered has a 52 week low of GBX 1,471.50 and a 52 week high of GBX 2,364. The company has a market cap of £46.28 billion, a PE ratio of 10.06, a PEG ratio of 0.80 and a beta of 0.59. The stock has a 50 day simple moving average of GBX 2,189.70 and a 200-day simple moving average of GBX 1,963.95.

Insider Buying and Selling

In other news, Chief Group Executive Bill Winters acquired 300,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were purchased at an average price of GBX 2,221 per share, with a total value of £6,663,000. Corporate insiders own 0.38% of the company’s stock.

Standard Chartered Company Profile

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas. The company operates in three segments: Corporate, Commercial & Institutional Banking; Consumer, Private & Business Banking; and Ventures. It offers retail products, such as deposits, mortgages, credit cards, and personal loans; wealth management products and services that include investments, portfolio management, insurance, and wealth advice; and transaction banking services, such as cash management, working capital, and trade financing products.