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.
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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