Investec cut shares of Standard Chartered (LON:STAN) to a sell rating in a research note published on Friday, ThisIsMoney.Co.Uk reports.

Several other equities research analysts have also issued reports on STAN. Jefferies Financial Group raised shares of Standard Chartered to a buy rating and lifted their price objective for the company from GBX 348 ($4.55) to GBX 489 ($6.39) in a research note on Tuesday, April 9th. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of Standard Chartered in a research note on Tuesday, May 14th. UBS Group reaffirmed a neutral rating and issued a GBX 690 ($9.02) price objective (up previously from GBX 610 ($7.97)) on shares of Standard Chartered in a research note on Wednesday, May 1st. Numis Securities raised shares of Standard Chartered to an add rating and lifted their price objective for the company from GBX 600 ($7.84) to GBX 720 ($9.41) in a research note on Wednesday, March 13th. Finally, HSBC reduced their price objective on shares of Standard Chartered from GBX 610 ($7.97) to GBX 590 ($7.71) and set a hold rating for the company in a research note on Tuesday, March 19th. Four analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of GBX 708.50 ($9.26).

STAN stock opened at GBX 713.60 ($9.32) on Friday. Standard Chartered has a 1 year low of GBX 514.20 ($6.72) and a 1 year high of GBX 722.80 ($9.44). The firm has a fifty day simple moving average of GBX 690.88. The firm has a market cap of $23.25 billion and a price-to-earnings ratio of 38.57.

In related news, insider Andrew Nigel (Andy) Halford sold 39,015 shares of Standard Chartered stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of GBX 691 ($9.03), for a total value of £269,593.65 ($352,271.85).

Standard Chartered Company Profile

Standard Chartered PLC., together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, and the Middle East. The company operates through Corporate & Institutional Banking, Retail banking, Commercial Banking, and Private Banking segments. It offers retail products, such as deposits, savings, mortgages, credit cards, and personal loans; wealth management that include investments, portfolio management, insurance and advices, and planning services; and transaction banking services, such as cash management, payments and transactions, securities services, and trade financing products.

Further Reading: Beta

Analyst Recommendations for Standard Chartered (LON:STAN)

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