Standard Chartered (LON:STAN) Reaches New 12-Month High Following Analyst Upgrade

Standard Chartered PLC (LON:STAN)’s stock price hit a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from GBX 2,270 to GBX 2,330. JPMorgan Chase & Co. currently has an overweight rating on the stock. Standard Chartered traded as high as GBX 2,262 and last traded at GBX 2,257, with a volume of 43556809 shares traded. The stock had previously closed at GBX 2,227.

A number of other equities research analysts also recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and issued a GBX 2,250 price target on shares of Standard Chartered in a report on Wednesday, July 29th. UBS Group reissued a “buy” rating and set a GBX 2,130 target price on shares of Standard Chartered in a research note on Monday, May 18th. Citigroup lifted their price target on shares of Standard Chartered from GBX 2,130 to GBX 2,230 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 2,450 price objective on shares of Standard Chartered in a research report on Thursday, July 30th. Finally, Shore Capital Group upgraded Standard Chartered to a “sell” rating in a report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Standard Chartered currently has a consensus rating of “Moderate Buy” and an average target price of GBX 2,278.

Standard Chartered Stock Performance

The stock has a 50 day moving average price of GBX 2,053.49 and a two-hundred day moving average price of GBX 1,864.30. The company has a market capitalization of £48.99 billion, a PE ratio of 10.91, a P/E/G ratio of 0.80 and a beta of 0.60.

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.