Standard Chartered (LON:STAN) Price Target Raised to GBX 2,470

Standard Chartered (LON:STAN) had its price objective lifted by JPMorgan Chase & Co. from GBX 2,330 to GBX 2,470 in a report released on Tuesday morning, Marketbeat reports. They currently have an overweight rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. UBS Group restated a “buy” rating and issued a GBX 2,130 price target on shares of Standard Chartered in a research note on Monday, May 18th. Citigroup raised their target price on shares of Standard Chartered from GBX 2,130 to GBX 2,230 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 2,250 price target on shares of Standard Chartered in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 2,450 price objective on shares of Standard Chartered in a report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 2,306.

Standard Chartered Trading Up 0.1%

LON:STAN opened at GBX 2,265 on Tuesday. Standard Chartered has a 12-month low of GBX 1,351.50 and a 12-month high of GBX 2,294. The stock has a 50-day moving average price of GBX 2,173.82 and a 200 day moving average price of GBX 1,938.92. The stock has a market capitalization of £49.43 billion, a P/E ratio of 10.71, a P/E/G ratio of 0.80 and a beta of 0.59.

Insiders Place Their Bets

In other Standard Chartered news, Chief Group Executive Bill Winters purchased 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were bought at an average price of GBX 2,221 per share, with a total value of £6,663,000. Corporate insiders own 0.38% of the company’s stock.

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.