Investec Downgrades Standard Chartered (LON:STAN) to Sell
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.
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
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