Standard Chartered (LON:STAN) Given New GBX 750 Price Target at Berenberg Bank

Standard Chartered (LON:STANGet Rating) had its price target increased by stock analysts at Berenberg Bank from GBX 640 ($8.16) to GBX 750 ($9.56) in a report released on Thursday, Marketbeat.com reports. The firm presently has a “buy” rating on the financial services provider’s stock. Berenberg Bank’s target price points to a potential upside of 38.58% from the company’s current price.

STAN has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Standard Chartered from GBX 610 ($7.77) to GBX 620 ($7.90) and gave the stock a “buy” rating in a research report on Wednesday, March 16th. Shore Capital restated a “buy” rating on shares of Standard Chartered in a research report on Friday, April 22nd. Barclays reaffirmed an “equal weight” rating and set a GBX 700 ($8.92) price target on shares of Standard Chartered in a research note on Wednesday, April 20th. Finally, JPMorgan Chase & Co. lowered their price objective on Standard Chartered from GBX 660 ($8.41) to GBX 610 ($7.77) and set an “overweight” rating for the company in a research note on Monday, March 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Standard Chartered currently has an average rating of “Buy” and a consensus target price of GBX 628.33 ($8.01).

Shares of LON STAN opened at GBX 541.20 ($6.90) on Thursday. The stock has a market capitalization of £16.32 billion and a PE ratio of 11.70. The business has a fifty day moving average price of GBX 507.68 and a two-hundred day moving average price of GBX 488.55. Standard Chartered has a fifty-two week low of GBX 406.20 ($5.18) and a fifty-two week high of GBX 590 ($7.52).

In other news, insider Andrew Nigel (Andy) Halford sold 14,120 shares of the company’s stock in a transaction on Monday, March 14th. The stock was sold at an average price of GBX 492 ($6.27), for a total transaction of £69,470.40 ($88,542.44). Also, insider Bill Winters sold 13,271 shares of the stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of GBX 483 ($6.16), for a total value of £64,098.93 ($81,696.32). Over the last ninety days, insiders sold 36,608 shares of company stock worth $18,048,386.

Standard Chartered Company Profile (Get Rating)

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, Europe, the Americas, and the Middle East. The company operates through two segments: Corporate, Commercial and Institutional Banking; and Consumer, Private and Business Banking.

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