Numis Securities Upgrades Standard Chartered (STAN) to “Add”
Numis Securities upgraded shares of Standard Chartered (LON:STAN) to an add rating in a report issued on Wednesday. The brokerage currently has GBX 720 ($9.41) price objective on the financial services provider’s stock, up from their previous price objective of GBX 600 ($7.84).
Several other equities research analysts have also recently weighed in on STAN. Credit Suisse Group dropped their price target on shares of Standard Chartered from GBX 545 ($7.12) to GBX 535 ($6.99) and set an underperform rating for the company in a research report on Wednesday, November 14th. UBS Group reissued a neutral rating and set a GBX 595 ($7.77) price target on shares of Standard Chartered in a research report on Thursday, November 29th. Deutsche Bank dropped their price target on shares of Standard Chartered from GBX 620 ($8.10) to GBX 580 ($7.58) and set a hold rating for the company in a research report on Monday, January 14th. JPMorgan Chase & Co. dropped their price target on shares of Standard Chartered from GBX 900 ($11.76) to GBX 820 ($10.71) and set an overweight rating for the company in a research report on Monday, January 21st. Finally, Barclays dropped their price target on shares of Standard Chartered from GBX 585 ($7.64) to GBX 550 ($7.19) and set an underweight rating for the company in a research report on Tuesday, January 29th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of GBX 689.43 ($9.01).
Shares of STAN opened at GBX 610 ($7.97) on Wednesday. The firm has a market cap of $20.17 billion and a price-to-earnings ratio of 32.97. Standard Chartered has a twelve month low of GBX 514.20 ($6.72) and a twelve month high of GBX 787.30 ($10.29).
About Standard Chartered
Standard Chartered PLC provides various banking products and services in the Greater China and North Asia, ASEAN and South Asia, Africa and the Middle East, and Europe and America. The company operates in four segments: Corporate & Institutional Banking, Private Banking, Commercial Banking, and Retail Banking.
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