Morgan Stanley reaffirmed their underweight rating on shares of Standard Chartered (LON:STAN) in a research report sent to investors on Tuesday, Stock Target Advisor reports.
STAN has been the topic of several other research reports. Barclays restated an underweight rating and set a GBX 630 ($8.23) price objective (up previously from GBX 620 ($8.10)) on shares of Standard Chartered in a report on Thursday, October 31st. Shore Capital reiterated a buy rating on shares of Standard Chartered in a research note on Wednesday, October 30th. Goldman Sachs Group reiterated a conviction-buy rating and issued a GBX 1,020 ($13.33) target price (up from GBX 990 ($12.94)) on shares of Standard Chartered in a research note on Thursday, November 14th. Deutsche Bank upped their price target on shares of Standard Chartered from GBX 630 ($8.23) to GBX 700 ($9.15) and gave the company a hold rating in a research note on Tuesday, November 5th. Finally, BNP Paribas lowered shares of Standard Chartered to an underperform rating in a research note on Friday, November 15th. Seven equities research analysts have rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Standard Chartered has a consensus rating of Hold and an average target price of GBX 731.73 ($9.56).
Standard Chartered stock traded down GBX 10.60 ($0.14) during midday trading on Tuesday, reaching GBX 686 ($8.96). The company’s stock had a trading volume of 5,512,054 shares, compared to its average volume of 7,690,000. The stock’s 50-day simple moving average is GBX 682.64 and its 200-day simple moving average is GBX 680.28. Standard Chartered has a 52-week low of GBX 570.70 ($7.46) and a 52-week high of GBX 742.60 ($9.70). The stock has a market capitalization of $22.26 billion and a P/E ratio of 37.69.
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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