Standard Chartered (LON:STAN) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Standard Chartered PLC (LON:STAN) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,585.59 and traded as high as GBX 1,833.50. Standard Chartered shares last traded at GBX 1,730, with a volume of 7,706,948 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STAN. JPMorgan Chase & Co. lifted their price objective on shares of Standard Chartered from GBX 1,880 to GBX 2,170 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Shore Capital Group reaffirmed a “hold” rating on shares of Standard Chartered in a report on Thursday, October 30th. Citigroup upped their price target on Standard Chartered from GBX 1,675 to GBX 1,775 and gave the stock a “neutral” rating in a research report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Standard Chartered from GBX 1,700 to GBX 1,900 and gave the stock a “hold” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Standard Chartered currently has a consensus rating of “Hold” and a consensus target price of GBX 1,800.

Standard Chartered Trading Up 0.3%

The company has a market cap of £39.07 billion, a PE ratio of 9.16, a P/E/G ratio of 0.80 and a beta of 0.85. The firm’s 50-day simple moving average is GBX 1,808.79 and its two-hundred day simple moving average is GBX 1,585.59.

About Standard Chartered

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.