Standard Chartered (LON:STAN) Earns “Buy” Rating from Goldman Sachs Group

Standard Chartered (LON:STAN)‘s stock had its “buy” rating reaffirmed by stock analysts at Goldman Sachs Group in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. They currently have a GBX 690 ($8.49) target price on the financial services provider’s stock, down from their prior target price of GBX 730 ($8.98). Goldman Sachs Group’s target price points to a potential upside of 54.60% from the company’s previous close.

Several other analysts have also weighed in on the company. Berenberg Bank restated a “buy” rating on shares of Standard Chartered in a report on Thursday, July 2nd. Deutsche Bank reiterated a “hold” rating and issued a GBX 415 ($5.11) target price on shares of Standard Chartered in a research note on Tuesday. Shore Capital restated a “buy” rating on shares of Standard Chartered in a research note on Wednesday, June 3rd. Canaccord Genuity cut their price target on Standard Chartered from GBX 590 ($7.26) to GBX 550 ($6.77) and set a “buy” rating on the stock in a research note on Tuesday, June 2nd. Finally, Citigroup restated a “buy” rating on shares of Standard Chartered in a research note on Monday, April 27th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of GBX 557.93 ($6.87).

LON:STAN opened at GBX 446.30 ($5.49) on Tuesday. The stock’s fifty day moving average is GBX 424.50 and its 200 day moving average is GBX 511.80. Standard Chartered has a fifty-two week low of GBX 4.27 ($0.05) and a fifty-two week high of GBX 740.80 ($9.12). The firm has a market capitalization of $14.09 billion and a PE ratio of 9.29.

In other Standard Chartered news, insider Bill Winters sold 16,470 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of GBX 391 ($4.81), for a total value of £64,397.70 ($79,248.95). Also, insider Byron Elmer Grote purchased 2,447 shares of the stock in a transaction on Friday, May 15th. The stock was acquired at an average cost of GBX 470 ($5.78) per share, with a total value of £11,500.90 ($14,153.21).

Standard Chartered Company Profile

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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