Standard Chartered PLC (LON:STAN) Stock Rated “Moderate Buy” by Wall Street Analysts

Standard Chartered PLC (LON:STAN) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is GBX 2,492.

A number of brokerages recently issued reports on STAN. JPMorgan Chase & Co. upped their price objective on shares of Standard Chartered from GBX 2,330 to GBX 2,470 and gave the stock an “overweight” rating in a report on Tuesday, September 8th. Citigroup increased their price objective on Standard Chartered from GBX 2,230 to GBX 2,370 and gave the company a “neutral” rating in a report on Wednesday, September 23rd. Deutsche Bank reissued a “buy” rating and issued a GBX 2,450 price objective on shares of Standard Chartered in a research note on Thursday, October 29th. Finally, Jefferies Financial Group restated a “buy” rating and issued a GBX 3,040 target price on shares of Standard Chartered in a report on Thursday, October 15th.

Top Standard Chartered Stories

Here are a few of the latest stories about STAN:

• Positive Sentiment: Standard Chartered’s profit rose 46%, with its CEO presenting a more fragmented global economy as an opportunity for the bank. The reported growth and outlook may support investor confidence. Article
• Neutral Sentiment: Absa is taking over Standard Chartered Uganda’s retail banking business. The transfer reduces the bank’s retail presence there, but could also reflect a focus on other businesses; the articles provided do not quantify the financial effect. Article
• Neutral Sentiment: Standard Chartered established a banking partnership with digital-asset firm MidChains. It may create opportunities to serve the digital-asset sector, but the announcement does not indicate an immediate earnings contribution. Article

Standard Chartered Stock Down 0.6%

Shares of LON:STAN opened at GBX 2,213 on Monday. The company’s fifty day moving average is GBX 2,180.07 and its two-hundred day moving average is GBX 1,981.62. The company has a market cap of £47.91 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 0.80 and a beta of 0.56. Standard Chartered has a 12-month low of GBX 1,471.50 and a 12-month high of GBX 2,364.

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.