Standard Chartered PLC (LON:STAN) Receives GBX 546.50 Average Price Target from Brokerages

Shares of Standard Chartered PLC (LON:STAN) have been assigned an average recommendation of “Hold” from the seventeen analysts that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is GBX 561.11 ($6.91).

A number of research firms recently issued reports on STAN. Deutsche Bank reaffirmed a “hold” rating on shares of Standard Chartered in a research note on Friday. Jefferies Financial Group raised shares of Standard Chartered to a “buy” rating and increased their price target for the stock from GBX 438 ($5.39) to GBX 575 ($7.08) in a research report on Monday, June 1st. Berenberg Bank restated a “buy” rating on shares of Standard Chartered in a research note on Thursday, July 2nd. Canaccord Genuity reduced their target price on shares of Standard Chartered from GBX 590 ($7.26) to GBX 550 ($6.77) and set a “buy” rating for the company in a report on Tuesday, June 2nd. Finally, BNP Paribas raised shares of Standard Chartered to a “neutral” rating and decreased their price objective for the stock from GBX 520 ($6.40) to GBX 500 ($6.15) in a research note on Monday, May 25th.

In other Standard Chartered news, insider Bill Winters sold 16,470 shares of Standard Chartered stock in a transaction dated Monday, May 4th. The stock was sold at an average price of GBX 391 ($4.81), for a total value of £64,397.70 ($79,248.95). Also, insider Byron Elmer Grote acquired 2,447 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was bought at an average price of GBX 470 ($5.78) per share, with a total value of £11,500.90 ($14,153.21).

Standard Chartered stock traded down GBX 8.30 ($0.10) during midday trading on Tuesday, reaching GBX 385.80 ($4.75). The company’s stock had a trading volume of 7,070,621 shares, compared to its average volume of 7,690,000. The business has a 50-day simple moving average of GBX 434.03 and a 200-day simple moving average of GBX 489.18. Standard Chartered has a fifty-two week low of GBX 4.27 ($0.05) and a fifty-two week high of GBX 740.80 ($9.12). The company has a market cap of $12.18 billion and a P/E ratio of 8.05.

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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