Standard Chartered (LON:STAN) Sets New 52-Week High – Should You Buy?

Standard Chartered PLC (LON:STAN) shares hit a new 52-week high on Tuesday . The company traded as high as GBX 1,811.80 and last traded at GBX 1,806.50, with a volume of 27935025 shares. The stock had previously closed at GBX 1,794.50.

Analyst Ratings Changes

Several research firms have weighed in on STAN. Shore Capital reiterated a “hold” rating on shares of Standard Chartered in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of Standard Chartered from GBX 1,770 to GBX 1,880 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Standard Chartered has a consensus rating of “Hold” and an average target price of GBX 1,363.75.

Standard Chartered Stock Up 0.7%

The company’s 50-day moving average is GBX 1,598.53 and its 200-day moving average is GBX 1,429.68. The stock has a market cap of £41.04 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85.

Standard Chartered Company Profile

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.