Standard Chartered (LON:STAN) Share Price Passes Above 200-Day Moving Average of $680.56

Standard Chartered PLC (LON:STAN)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $680.56 and traded as high as $683.40. Standard Chartered shares last traded at $678.40, with a volume of 3,991,868 shares trading hands.

Several research analysts have recently issued reports on the stock. Morgan Stanley reiterated an “underweight” rating on shares of Standard Chartered in a report on Tuesday, November 19th. Barclays restated an “underweight” rating on shares of Standard Chartered in a report on Wednesday, November 27th. Societe Generale raised Standard Chartered to a “buy” rating in a research report on Tuesday, September 10th. HSBC increased their target price on Standard Chartered from GBX 570 ($7.50) to GBX 590 ($7.76) and gave the company a “reduce” rating in a research note on Tuesday, November 5th. Finally, Goldman Sachs Group restated a “conviction-buy” rating and issued a GBX 1,000 ($13.15) price target (down previously from GBX 1,020 ($13.42)) on shares of Standard Chartered in a research note on Friday, November 22nd. Seven investment analysts have rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of GBX 729.91 ($9.60).

The company has a market capitalization of $22.13 billion and a P/E ratio of 38.04. The firm’s 50-day moving average is GBX 698.16 and its 200-day moving average is GBX 680.49.

About Standard Chartered (LON:STAN)

Standard Chartered PLC., together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, and the Middle East. The company operates through Corporate & Institutional Banking, Retail banking, Commercial Banking, and Private Banking segments. It offers retail products, such as deposits, savings, mortgages, credit cards, and personal loans; wealth management that include investments, portfolio management, insurance and advices, and planning services; and transaction banking services, such as cash management, payments and transactions, securities services, and trade financing products.

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