Standard Chartered (LON:STAN) Lifted to Buy at The Goldman Sachs Group

Standard Chartered (LON:STAN) was upgraded by stock analysts at The Goldman Sachs Group to a “buy” rating in a report issued on Monday, Digital Look reports. The brokerage currently has a GBX 868 ($10.66) target price on the financial services provider’s stock, down from their prior target price of GBX 879 ($10.79). The Goldman Sachs Group’s price target indicates a potential upside of 30.62% from the company’s current price.

Several other research firms have also weighed in on STAN. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research note on Monday, October 16th. JPMorgan Chase & Co. upped their price target on shares of Standard Chartered from GBX 980 ($12.03) to GBX 990 ($12.16) and gave the company an “overweight” rating in a research note on Thursday, September 7th. Shore Capital reaffirmed a “buy” rating on shares of Standard Chartered in a research report on Friday, July 28th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,100 ($13.51) price objective on shares of Standard Chartered in a report on Monday, November 6th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 956.33 ($11.74).

Standard Chartered Price Performance

LON:STAN traded up GBX 4.52 ($0.06) during trading hours on Monday, reaching GBX 664.52 ($8.16). 5,703,493 shares of the stock were exchanged, compared to its average volume of 6,481,012. The stock has a market cap of £17.74 billion, a PE ratio of 1,253.81, a PEG ratio of 0.84 and a beta of 0.85. Standard Chartered has a twelve month low of GBX 577.40 ($7.09) and a twelve month high of GBX 799.40 ($9.82). The firm has a 50 day moving average of GBX 703.20 and a 200 day moving average of GBX 691.44.

About Standard Chartered

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.