Standard Chartered (STAN) Stock Rating Reaffirmed by Berenberg Bank
Standard Chartered (LON:STAN)‘s stock had its “hold” rating reiterated by investment analysts at Berenberg Bank in a report released on Wednesday. They presently have a GBX 700 ($9.37) price objective on the financial services provider’s stock. Berenberg Bank’s target price would indicate a potential downside of 4.48% from the stock’s previous close.
Several other research analysts have also recently issued reports on STAN. Deutsche Bank restated a “sell” rating and issued a GBX 668 ($8.95) price objective on shares of Standard Chartered in a research note on Tuesday, September 26th. restated a “reduce” rating and issued a GBX 620 ($8.30) price objective on shares of Standard Chartered in a research note on Monday, September 18th. Credit Suisse Group reduced their price objective on Standard Chartered from GBX 620 ($8.30) to GBX 610 ($8.17) and set an “underperform” rating for the company in a research note on Friday, November 3rd. Barclays restated an “underweight” rating on shares of Standard Chartered in a research note on Thursday, August 3rd. Finally, Societe Generale restated a “hold” rating on shares of Standard Chartered in a research note on Monday, October 23rd. Nine investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Standard Chartered presently has an average rating of “Hold” and an average target price of GBX 692.83 ($9.28).
Shares of Standard Chartered (STAN) traded down GBX 5.60 ($0.07) during midday trading on Wednesday, reaching GBX 732.80 ($9.81). The company’s stock had a trading volume of 3,798,089 shares, compared to its average volume of 7,430,000. Standard Chartered has a fifty-two week low of GBX 621.50 ($8.32) and a fifty-two week high of GBX 860 ($11.52).
In other news, insider Bill Winters sold 149,761 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of GBX 725 ($9.71), for a total value of £1,085,767.25 ($1,454,087.65).
Standard Chartered Company Profile
Standard Chartered PLC is an international banking company. The Banks’s segments include Corporate & Institutional Banking, Retail Banking, Commercial Banking and Private Banking. Its Corporate & Institutional Banking segment allows companies and financial institutions to operate and trade globally, and its Private Banking segment supports high net worth individuals with their banking needs across borders and offers access to global investment opportunities.
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