Standard Chartered (LON:STAN) PT Raised to GBX 690

Standard Chartered (LON:STAN – Get Rating) had its price target hoisted by stock analysts at JPMorgan Chase & Co. from GBX 610 ($7.62) to GBX 690 ($8.62) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 20.63% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Barclays reissued an “equal weight” rating and set a GBX 700 ($8.74) price objective on shares of Standard Chartered in a report on Wednesday, April 20th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Standard Chartered from GBX 620 ($7.75) to GBX 800 ($9.99) and gave the stock a “buy” rating in a research report on Friday, April 29th. Shore Capital restated a “buy” rating on shares of Standard Chartered in a research report on Friday, April 22nd. Finally, Berenberg Bank raised their target price on shares of 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of GBX 671.67 ($8.39).

STAN stock opened at GBX 572 ($7.15) on Wednesday. Standard Chartered has a twelve month low of GBX 406.20 ($5.07) and a twelve month high of GBX 590 ($7.37). The company’s 50 day moving average is GBX 506.52 and its two-hundred day moving average is GBX 491.13. The stock has a market cap of £17.25 billion and a P/E ratio of 11.86.

In related news, insider Bill Winters sold 13,271 shares of Standard Chartered stock in a transaction on Thursday, March 10th. The shares were sold at an average price of GBX 483 ($6.03), for a total value of £64,098.93 ($80,073.62). Also, insider Andrew Nigel (Andy) Halford sold 14,120 shares of Standard Chartered stock in a transaction on Monday, March 14th. The shares were sold at an average price of GBX 492 ($6.15), for a total transaction of £69,470.40 ($86,783.76). Over the last quarter, 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.

Read More