Standard Chartered (LON:STAN) Price Target Raised to GBX 2,370

Standard Chartered (LON:STAN) had its target price increased by Citigroup from GBX 2,230 to GBX 2,370 in a note issued to investors on Wednesday, Digital Look reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective would suggest a potential upside of 3.31% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and set a GBX 2,250 price target on shares of Standard Chartered in a research report on Wednesday, July 29th. JPMorgan Chase & Co. increased their target price on Standard Chartered from GBX 2,330 to GBX 2,470 and gave the company an “overweight” rating in a research note on Tuesday, September 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 2,450 target price on shares of Standard Chartered in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 2,334.

Standard Chartered Stock Performance

LON:STAN opened at GBX 2,294 on Wednesday. The firm has a market cap of £50.07 billion, a P/E ratio of 10.85, a P/E/G ratio of 0.80 and a beta of 0.59. Standard Chartered has a fifty-two week low of GBX 1,351.50 and a fifty-two week high of GBX 2,345. The firm has a 50-day simple moving average of GBX 2,202.70 and a two-hundred day simple moving average of GBX 1,968.11.

Insider Buying and Selling

In related news, Chief Group Executive Bill Winters bought 300,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was acquired at an average price of GBX 2,221 per share, with a total value of £6,663,000. Company 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.