Standard Chartered (STAN) Given “Reduce” Rating at HSBC
HSBC reiterated their reduce rating on shares of Standard Chartered (LON:STAN) in a research report report published on Wednesday. HSBC currently has a GBX 630 ($8.44) price target on the financial services provider’s stock.
A number of other research firms have also recently issued reports on STAN. Credit Suisse Group set a GBX 615 ($8.24) target price on Standard Chartered and gave the company a sell rating in a research note on Wednesday, August 2nd. UBS set a GBX 750 ($10.04) price target on Standard Chartered and gave the company a neutral rating in a report on Wednesday, August 2nd. Barclays reissued an underweight rating on shares of Standard Chartered in a report on Thursday, August 3rd. Goldman Sachs Group set a GBX 970 ($12.99) price target on Standard Chartered and gave the company a buy rating in a report on Thursday, August 3rd. Finally, Deutsche Bank lowered their price target on Standard Chartered from GBX 674 ($9.03) to GBX 668 ($8.95) and set a sell rating on the stock in a report on Thursday, August 3rd. Nine research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of GBX 692.83 ($9.28).
Shares of Standard Chartered (LON STAN) opened at GBX 727.54 ($9.74) on Wednesday. Standard Chartered has a one year low of GBX 633.86 ($8.49) and a one year high of GBX 860 ($11.52).
In related news, insider Bill Winters sold 149,761 shares of Standard Chartered stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of GBX 725 ($9.71), for a total transaction of £1,085,767.25 ($1,454,087.65).
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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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