Standard Chartered (LON:STAN) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Standard Chartered PLC (LON:STAN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,635.79 and traded as high as GBX 1,701.59. Standard Chartered shares last traded at GBX 1,684, with a volume of 84,619,859 shares changing hands.

Analyst Ratings Changes

Several research analysts have issued reports on STAN shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Standard Chartered from GBX 1,700 to GBX 1,900 and gave the stock a “hold” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. upped their price objective on shares of Standard Chartered from GBX 1,880 to GBX 2,170 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Finally, Citigroup increased their price objective on shares of Standard Chartered from GBX 1,675 to GBX 1,775 and gave the stock a “neutral” rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Standard Chartered presently has an average rating of “Hold” and an average target price of GBX 1,800.

Standard Chartered Stock Up 3.4%

The business has a 50-day moving average price of GBX 1,805.39 and a two-hundred day moving average price of GBX 1,635.79. The company has a market capitalization of £37.92 billion, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of 0.80 and a beta of 0.39.

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.