Standard Chartered (LON:STAN) Lifted to Hold at Investec

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Standard Chartered (LON:STAN) was upgraded by stock analysts at Investec to a “hold” rating in a research note issued on Tuesday, ThisIsMoney.Co.Uk reports. The firm currently has a GBX 660 ($8.68) price objective on the financial services provider’s stock, down from their prior price objective of GBX 670 ($8.81). Investec’s target price suggests a potential upside of 0.15% from the stock’s previous close.

A number of other analysts also recently commented on STAN. Berenberg Bank reaffirmed a “buy” rating on shares of Standard Chartered in a research report on Monday, December 2nd. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research report on Monday, January 20th. UBS Group reissued a “neutral” rating on shares of Standard Chartered in a research report on Monday, November 4th. Royal Bank of Canada restated an “underperform” rating and issued a GBX 265 ($3.49) price objective (up previously from GBX 250 ($3.29)) on shares of Standard Chartered in a research note on Tuesday, January 21st. Finally, HSBC raised their target price on Standard Chartered from GBX 570 ($7.50) to GBX 590 ($7.76) and gave the company a “reduce” rating in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of GBX 688.67 ($9.06).

Shares of LON STAN opened at GBX 659 ($8.67) on Tuesday. Standard Chartered has a twelve month low of GBX 573.80 ($7.55) and a twelve month high of GBX 742.60 ($9.77). The stock’s 50 day moving average price is GBX 708.98 and its 200-day moving average price is GBX 684.22. The company has a market capitalization of $21.02 billion and a PE ratio of 36.21.

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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