Deutsche Bank Aktiengesellschaft Boosts Standard Chartered (LON:STAN) Price Target to GBX 800

Standard Chartered (LON:STANGet Rating) had its price target hoisted by research analysts at Deutsche Bank Aktiengesellschaft from GBX 620 ($7.75) to GBX 800 ($9.99) in a report released on Friday, Digital Look reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 42.25% from the company’s current price.

Several other equities research analysts have also recently weighed in on STAN. JPMorgan Chase & Co. reduced their price target on shares of Standard Chartered from GBX 660 ($8.24) to GBX 610 ($7.62) and set an “overweight” rating on the stock in a research report on Monday, March 14th. Barclays restated an “equal weight” rating and issued a GBX 700 ($8.74) target price on shares of Standard Chartered in a report on Wednesday, April 20th. Shore Capital reaffirmed a “buy” rating on shares of Standard Chartered in a report on Friday, April 22nd. Finally, Berenberg Bank lifted their price target on Standard Chartered from GBX 640 ($8.00) to GBX 750 ($9.37) and gave the stock a “buy” rating in a research report on Thursday, April 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of GBX 658.33 ($8.22).

LON:STAN opened at GBX 562.40 ($7.03) on Friday. The company has a market cap of £16.96 billion and a price-to-earnings ratio of 11.67. Standard Chartered has a 1 year low of GBX 406.20 ($5.07) and a 1 year high of GBX 590 ($7.37). The stock’s 50 day simple moving average is GBX 506.70 and its two-hundred day simple moving average is GBX 490.26.

In other news, insider Bill Winters sold 13,271 shares of the business’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of GBX 483 ($6.03), for a total transaction of £64,098.93 ($80,073.62). Also, insider Andrew Nigel (Andy) Halford sold 14,120 shares of the company’s stock in a transaction dated Monday, March 14th. The stock was sold at an average price of GBX 492 ($6.15), for a total transaction of £69,470.40 ($86,783.76). Insiders sold a total of 36,608 shares of company stock worth $18,048,386 over the last three months.

About Standard Chartered (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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