Standard Chartered (LON:STAN) had its target price reduced by equities researchers at Goldman Sachs Group from GBX 930 ($12.15) to GBX 910 ($11.89) in a report released on Friday. The firm currently has a “conviction-buy” rating on the financial services provider’s stock. Goldman Sachs Group’s price objective suggests a potential upside of 49.06% from the company’s previous close.
Other analysts have also recently issued reports about the company. Shore Capital restated a “buy” rating on shares of Standard Chartered in a research report on Thursday. UBS Group reiterated a “neutral” rating and set a GBX 595 ($7.77) price target on shares of Standard Chartered in a research report on Thursday, November 29th. HSBC lowered their price target on Standard Chartered from GBX 630 ($8.23) to GBX 610 ($7.97) and set a “hold” rating on the stock in a research report on Thursday, November 1st. Berenberg Bank lowered their price target on Standard Chartered from GBX 920 ($12.02) to GBX 800 ($10.45) and set a “buy” rating on the stock in a research report on Monday, February 4th. Finally, JPMorgan Chase & Co. lowered their price target on Standard Chartered from GBX 900 ($11.76) to GBX 820 ($10.71) and set an “overweight” rating on the stock in a research report on Monday, January 21st. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Standard Chartered has a consensus rating of “Hold” and an average target price of GBX 686.21 ($8.97).
STAN opened at GBX 610.50 ($7.98) on Friday. Standard Chartered has a 12 month low of GBX 678.80 ($8.87) and a 12 month high of GBX 864.20 ($11.29).
About Standard Chartered
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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