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.
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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