Standard Chartered (LON:STAN) Hits New 52-Week High – Here’s Why

Standard Chartered PLC (LON:STAN)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 2,174 and last traded at GBX 2,136, with a volume of 4251751 shares. The stock had previously closed at GBX 2,137.

Wall Street Analyst Weigh In

STAN has been the subject of several research reports. UBS Group restated a “buy” rating and issued a GBX 2,130 price target on shares of Standard Chartered in a research note on Monday, May 18th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 2,250 price objective on shares of Standard Chartered in a research note on Thursday, April 30th. JPMorgan Chase & Co. upgraded Standard Chartered to an “overweight” rating and lifted their target price for the company from GBX 2,220 to GBX 2,270 in a report on Tuesday, July 21st. Finally, Shore Capital Group raised Standard Chartered to a “sell” rating in a research note on Friday, May 1st. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of GBX 1,946.67.

Standard Chartered Stock Performance

The firm has a 50-day moving average price of GBX 2,027.78 and a two-hundred day moving average price of GBX 1,851.41. The firm has a market cap of £46.21 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 0.80 and a beta of 0.60.

Standard Chartered Company Profile

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.