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 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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