Standard Chartered (LON:STAN) Earns “Conviction-Buy” Rating from Goldman Sachs Group
Goldman Sachs Group reissued their conviction-buy rating on shares of Standard Chartered (LON:STAN) in a report issued on Tuesday morning, ThisIsMoney.Co.Uk reports. Goldman Sachs Group currently has a GBX 970 ($12.67) target price on the financial services provider’s stock, down from their previous target price of GBX 980 ($12.81).
Several other equities research analysts have also recently commented on STAN. Royal Bank of Canada cut Standard Chartered to an underperform rating and increased their price target for the company from GBX 460 ($6.01) to GBX 580 ($7.58) in a report on Tuesday, April 30th. Barclays reaffirmed an underweight rating on shares of Standard Chartered in a report on Wednesday, July 17th. Shore Capital reaffirmed a buy rating on shares of Standard Chartered in a report on Thursday, August 1st. Morgan Stanley reaffirmed an underweight rating on shares of Standard Chartered in a report on Friday, July 26th. Finally, Investec cut Standard Chartered to a sell rating in a report on Friday, June 28th. Six research analysts have rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of GBX 708.77 ($9.26).
LON:STAN opened at GBX 612.40 ($8.00) on Tuesday. Standard Chartered has a one year low of GBX 514.20 ($6.72) and a one year high of GBX 742.60 ($9.70). The stock has a market cap of $19.68 billion and a PE ratio of 38.52. The stock has a 50 day moving average price of GBX 688.35 and a 200 day moving average price of GBX 661.35.
In other Standard Chartered news, insider Andrew Nigel (Andy) Halford bought 23,701 shares of the business’s stock in a transaction on Monday, June 24th. The stock was bought at an average price of GBX 703 ($9.19) per share, with a total value of £166,618.03 ($217,715.97).
About Standard Chartered
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.
Read More: Inverted Yield Curve
Receive News & Ratings for Standard Chartered Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Chartered and related companies with MarketBeat.com's FREE daily email newsletter.