Barclays Reiterates Underweight Rating for Standard Chartered (LON:STAN)

Standard Chartered (LON:STAN)‘s stock had its “underweight” rating reaffirmed by analysts at Barclays in a report released on Tuesday, November 14th. They presently have a GBX 620 ($8.30) price target on the financial services provider’s stock. Barclays’ price objective indicates a potential downside of 14.78% from the stock’s previous close.

Several other equities analysts also recently issued reports on STAN. Goldman Sachs Group lifted their price objective on Standard Chartered from GBX 960 ($12.86) to GBX 970 ($12.99) and gave the company a “buy” rating in a research report on Tuesday, July 18th. BNP Paribas reissued a “neutral” rating and issued a GBX 750 ($10.04) target price on shares of Standard Chartered in a research note on Wednesday, July 19th. Citigroup reissued a “buy” rating on shares of Standard Chartered in a research note on Friday, July 21st. Deutsche Bank lifted their price objective on Standard Chartered from GBX 642 ($8.60) to GBX 674 ($9.03) and gave the stock a “sell” rating in a research note on Tuesday, July 25th. Finally, UBS set a GBX 750 ($10.04) price objective on Standard Chartered and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. Nine equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Standard Chartered currently has an average rating of “Hold” and an average target price of GBX 692.83 ($9.28).

Shares of Standard Chartered (LON:STAN) traded down GBX 10.86 ($0.15) on Tuesday, reaching GBX 727.54 ($9.74). The company’s stock had a trading volume of 6,720,000 shares, compared to its average volume of 7,530,000. Standard Chartered has a 52-week low of GBX 633.86 ($8.49) and a 52-week high of GBX 860 ($11.52).

In related news, insider Bill Winters sold 149,761 shares of Standard Chartered stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of GBX 725 ($9.71), for a total transaction of £1,085,767.25 ($1,454,087.65).

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Standard Chartered Company Profile

Standard Chartered PLC is an international banking company. The Banks’s segments include Corporate & Institutional Banking, Retail Banking, Commercial Banking and Private Banking. Its Corporate & Institutional Banking segment allows companies and financial institutions to operate and trade globally, and its Private Banking segment supports high net worth individuals with their banking needs across borders and offers access to global investment opportunities.

Analyst Recommendations for Standard Chartered (LON:STAN)

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