Standard Chartered’s (STAN) Underperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their underperform rating on shares of Standard Chartered (LON:STAN) in a research note issued to investors on Tuesday, Stock Target Advisor reports. Royal Bank of Canada currently has a GBX 265 ($3.49) price objective on the financial services provider’s stock, up from their previous price objective of GBX 250 ($3.29).

Several other research firms have also recently commented on STAN. Citigroup reaffirmed a neutral rating on shares of Standard Chartered in a research note on Monday, January 20th. Morgan Stanley reaffirmed an underweight rating on shares of Standard Chartered in a research note on Tuesday, November 19th. Barclays reaffirmed an underweight rating on shares of Standard Chartered in a research note on Tuesday. Goldman Sachs Group reaffirmed a conviction-buy rating and set a GBX 1,000 ($13.15) target price (down previously from GBX 1,020 ($13.42)) on shares of Standard Chartered in a research note on Friday, November 22nd. Finally, Shore Capital reissued a buy rating and issued a GBX 850 ($11.18) price objective on shares of Standard Chartered in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Standard Chartered currently has an average rating of Hold and a consensus price target of GBX 691.27 ($9.09).

LON STAN opened at GBX 688.80 ($9.06) on Tuesday. The business has a 50 day simple moving average of GBX 708.80 and a 200 day simple moving average of GBX 685. Standard Chartered has a one year low of GBX 573.80 ($7.55) and a one year high of GBX 742.60 ($9.77). The stock has a market capitalization of $22.02 billion and a P/E ratio of 37.85.

Standard Chartered Company Profile

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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Analyst Recommendations for Standard Chartered (LON:STAN)

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