Standard Chartered (LON:STAN) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Standard Chartered PLC (LON:STAN)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,585.59 and traded as high as GBX 1,833.50. Standard Chartered shares last traded at GBX 1,730, with a volume of 7,706,948 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup raised their target price on shares of Standard Chartered from GBX 1,675 to GBX 1,775 and gave the stock a “neutral” rating in a research report on Friday, January 9th. JPMorgan Chase & Co. increased their price objective on Standard Chartered from GBX 1,880 to GBX 2,170 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft lifted their target price on Standard Chartered from GBX 1,700 to GBX 1,900 and gave the company a “hold” rating in a research report on Friday, January 23rd. Finally, Shore Capital Group reissued a “hold” rating on shares of Standard Chartered in a research report on Thursday, October 30th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Standard Chartered currently has a consensus rating of “Hold” and a consensus target price of GBX 1,800.

Standard Chartered Price Performance

The company has a market cap of £39.07 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. The business has a fifty day simple moving average of GBX 1,808.79 and a two-hundred day simple moving average of GBX 1,585.59.

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.