Standard Chartered (LON:STAN) Sets New 52-Week High Following Analyst Upgrade

Standard Chartered PLC (LON:STAN)’s stock price hit a new 52-week high during mid-day trading on Wednesday after JPMorgan Chase & Co. upgraded the stock to an overweight rating. JPMorgan Chase & Co. now has a GBX 2,270 price target on the stock, up from their previous price target of GBX 2,220. Standard Chartered traded as high as GBX 2,161 and last traded at GBX 2,156, with a volume of 43925191 shares trading hands. The stock had previously closed at GBX 2,107.

STAN has been the subject of a number of other reports. Shore Capital Group raised Standard Chartered to a “sell” rating in a research note on Friday, May 1st. UBS Group restated a “buy” rating and set a GBX 2,130 price objective on shares of Standard Chartered in a report on Monday, May 18th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 2,250 price objective on shares of Standard Chartered in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Standard Chartered currently has an average rating of “Hold” and an average target price of GBX 1,946.67.

Standard Chartered Price Performance

The firm has a market capitalization of £46.80 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 0.80 and a beta of 0.60. The stock’s 50-day moving average price is GBX 2,008.79 and its 200 day moving average price is GBX 1,843.04.

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.