Standard Chartered (LON:STAN) Downgraded by BNP Paribas to Underperform

BNP Paribas downgraded shares of Standard Chartered (LON:STAN) to an underperform rating in a research note released on Friday, Stock Target Advisor reports.

Several other analysts have also recently commented on STAN. Goldman Sachs Group reissued a conviction-buy rating and set a GBX 1,020 ($13.33) price target (up from GBX 990 ($12.94)) on shares of Standard Chartered in a research note on Thursday. HSBC increased their price target on shares of Standard Chartered from GBX 570 ($7.45) to GBX 590 ($7.71) and gave the company a reduce rating in a research note on Tuesday, November 5th. Shore Capital reissued a buy rating on shares of Standard Chartered in a research note on Wednesday, October 30th. Societe Generale raised shares of Standard Chartered to a buy rating in a research note on Tuesday, September 10th. Finally, Barclays reissued an underweight rating and set a GBX 630 ($8.23) price target (up from GBX 620 ($8.10)) on shares of Standard Chartered in a research note on Thursday, October 31st. Seven analysts have rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of GBX 731.73 ($9.56).

Shares of STAN traded down GBX 0.40 ($0.01) during mid-day trading on Friday, hitting GBX 703.20 ($9.19). 6,317,379 shares of the company traded hands, compared to its average volume of 7,690,000. Standard Chartered has a one year low of GBX 570.70 ($7.46) and a one year high of GBX 742.60 ($9.70). The business has a 50-day moving average of GBX 681.21 and a 200 day moving average of GBX 679.55. The stock has a market capitalization of $22.48 billion and a price-to-earnings ratio of 38.64.

About Standard Chartered

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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Analyst Recommendations for Standard Chartered (LON:STAN)

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