Standard Chartered’s (STAN) “Underweight” Rating Reaffirmed at Morgan Stanley

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.

About Standard Chartered

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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Analyst Recommendations for Standard Chartered (LON:STAN)

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