Standard Chartered’s (STAN) Underweight Rating Reaffirmed at Barclays
Several other brokerages also recently commented on STAN. Goldman Sachs Group reaffirmed a conviction-buy rating and set a GBX 970 ($12.67) target price (down from GBX 980 ($12.81)) on shares of Standard Chartered in a report on Tuesday, August 13th. UBS Group reaffirmed a neutral rating and set a GBX 670 ($8.75) target price (down from GBX 695 ($9.08)) on shares of Standard Chartered in a report on Tuesday, August 13th. HSBC cut their target price on Standard Chartered from GBX 590 ($7.71) to GBX 570 ($7.45) and set a reduce rating on the stock in a report on Thursday, August 15th. JPMorgan Chase & Co. reaffirmed an overweight rating and set a GBX 850 ($11.11) target price (up from GBX 820 ($10.71)) on shares of Standard Chartered in a report on Tuesday, August 13th. Finally, Deutsche Bank reaffirmed a hold rating and set a GBX 630 ($8.23) target price on shares of Standard Chartered in a report on Friday, September 6th. Six research analysts have rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of GBX 708.77 ($9.26).
LON STAN opened at GBX 701.43 ($9.17) on Thursday. Standard Chartered has a twelve month low of GBX 514.20 ($6.72) and a twelve month high of GBX 742.60 ($9.70). The company has a market cap of $22.51 billion and a price-to-earnings ratio of 44.11. The business’s fifty day moving average is GBX 646.95 and its 200 day moving average is GBX 661.
In other Standard Chartered news, insider Andrew Nigel (Andy) Halford acquired 23,701 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were bought at an average cost of GBX 703 ($9.19) per share, with a total value of £166,618.03 ($217,715.97).
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.
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