Deutsche Bank Reiterates Hold Rating for Standard Chartered (LON:STAN)

Standard Chartered (LON:STAN)‘s stock had its “hold” rating reaffirmed by equities research analysts at Deutsche Bank in a research report issued to clients and investors on Friday, ThisIsMoney.Co.Uk reports.

A number of other equities analysts have also recently issued reports on STAN. Citigroup reiterated a “buy” rating on shares of Standard Chartered in a research report on Tuesday, July 21st. Canaccord Genuity lowered their price objective on shares of Standard Chartered from GBX 590 ($7.26) to GBX 550 ($6.77) and set a “buy” rating for the company in a research report on Tuesday, June 2nd. Credit Suisse Group upgraded shares of Standard Chartered to a “neutral” rating and upped their price objective for the stock from GBX 395 ($4.86) to GBX 480 ($5.91) in a research report on Thursday, July 23rd. Barclays reiterated an “underweight” rating on shares of Standard Chartered in a research report on Thursday. Finally, BNP Paribas upgraded shares of Standard Chartered to a “neutral” rating and lowered their price objective for the stock from GBX 520 ($6.40) to GBX 500 ($6.15) in a research report on Monday, May 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Standard Chartered has an average rating of “Hold” and an average price target of GBX 549.93 ($6.77).

Shares of LON:STAN opened at GBX 385.80 ($4.75) on Friday. The firm has a 50 day moving average of GBX 434.03 and a 200-day moving average of GBX 489.18. The stock has a market capitalization of $12.18 billion and a PE ratio of 8.05. Standard Chartered has a 12 month low of GBX 4.27 ($0.05) and a 12 month high of GBX 740.80 ($9.12).

In other news, insider Byron Elmer Grote acquired 2,447 shares of Standard Chartered stock in a transaction dated Friday, May 15th. The shares were bought at an average cost of GBX 470 ($5.78) per share, with a total value of £11,500.90 ($14,153.21). Also, insider Bill Winters sold 16,470 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of GBX 391 ($4.81), for a total transaction of £64,397.70 ($79,248.95).

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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