Standard Chartered (LON:STAN) Hits New 52-Week High – Time to Buy?

Shares of Standard Chartered PLC (LON:STAN) hit a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 1,813 and last traded at GBX 1,811.50, with a volume of 22075451 shares traded. The stock had previously closed at GBX 1,805.50.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on STAN shares. JPMorgan Chase & Co. raised their price target on Standard Chartered from GBX 1,770 to GBX 1,880 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Shore Capital reissued a “hold” rating on shares of Standard Chartered in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Standard Chartered currently has a consensus rating of “Hold” and an average price target of GBX 1,363.75.

Standard Chartered Stock Performance

The company has a market cap of £41.17 billion, a P/E ratio of 9.56, a P/E/G ratio of 0.80 and a beta of 0.85. The stock has a 50 day moving average price of GBX 1,629.32 and a 200 day moving average price of GBX 1,447.56.

About Standard Chartered

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas. The company operates in three segments: Corporate, Commercial & Institutional Banking; Consumer, Private & Business Banking; and Ventures. It offers retail products, such as deposits, mortgages, credit cards, and personal loans; wealth management products and services that include investments, portfolio management, insurance, and wealth advice; and transaction banking services, such as cash management, working capital, and trade financing products.