Credit Suisse Group Cuts Standard Chartered (STAN) Price Target to GBX 535
Standard Chartered (LON:STAN) had its price objective reduced by equities researchers at Credit Suisse Group from GBX 545 ($7.12) to GBX 535 ($6.99) in a note issued to investors on Wednesday. The firm currently has an “underperform” rating on the financial services provider’s stock. Credit Suisse Group’s target price points to a potential downside of 7.62% from the company’s current price.
A number of other equities analysts have also recently issued reports on the company. UBS Group reissued a “neutral” rating and issued a GBX 595 ($7.77) target price (down from GBX 600 ($7.84)) on shares of Standard Chartered in a report on Friday, November 2nd. HSBC dropped their target price on Standard Chartered from GBX 630 ($8.23) to GBX 610 ($7.97) and set a “hold” rating for the company in a report on Thursday, November 1st. Barclays dropped their target price on Standard Chartered from GBX 685 ($8.95) to GBX 600 ($7.84) and set an “underweight” rating for the company in a report on Thursday, November 1st. Deutsche Bank dropped their price target on Standard Chartered from GBX 650 ($8.49) to GBX 620 ($8.10) and set a “hold” rating for the company in a report on Thursday, November 1st. Finally, Shore Capital reaffirmed a “buy” rating on shares of Standard Chartered in a report on Wednesday, October 31st. Four investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Standard Chartered currently has a consensus rating of “Hold” and a consensus target price of GBX 730.31 ($9.54).
Shares of STAN opened at GBX 579.10 ($7.57) on Wednesday. Standard Chartered has a 1 year low of GBX 678.80 ($8.87) and a 1 year high of GBX 864.20 ($11.29).
Standard Chartered Company Profile
Standard Chartered PLC provides various banking products and services in the Greater China and North Asia, ASEAN and South Asia, Africa and the Middle East, and Europe and America. The company operates in four segments: Corporate & Institutional Banking, Private Banking, Commercial Banking, and Retail Banking.
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