Standard Chartered (LON:STAN) Reaches New 12-Month High Following Analyst Upgrade

Standard Chartered PLC (LON:STAN)’s share price reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from GBX 2,270 to GBX 2,330. JPMorgan Chase & Co. currently has an overweight rating on the stock. Standard Chartered traded as high as GBX 2,262 and last traded at GBX 2,257, with a volume of 43556809 shares changing hands. The stock had previously closed at GBX 2,227.

Several other equities research analysts have also weighed in on the company. UBS Group restated a “buy” rating and issued a GBX 2,130 target price on shares of Standard Chartered in a report on Monday, May 18th. Citigroup increased their price target on Standard Chartered from GBX 2,130 to GBX 2,230 and gave the company a “neutral” rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 2,450 price target on shares of Standard Chartered in a research report on Thursday, July 30th. Jefferies Financial Group restated a “buy” rating and issued a GBX 2,250 price objective on shares of Standard Chartered in a research note on Wednesday, July 29th. Finally, Shore Capital Group raised shares of Standard Chartered to a “sell” rating in a report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 2,278.

Standard Chartered Stock Up 1.2%

The business has a fifty day simple moving average of GBX 2,053.49 and a two-hundred day simple moving average of GBX 1,864.30. The company has a market capitalization of £48.99 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 0.80 and a beta of 0.60.

About Standard Chartered

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.