Goldman Sachs Group Cuts Standard Chartered (STAN) Price Target to GBX 945
Standard Chartered (LON:STAN) had its price target decreased by equities researchers at Goldman Sachs Group from GBX 970 ($12.64) to GBX 945 ($12.31) in a note issued to investors on Wednesday. The firm presently has a “conviction-buy” rating on the financial services provider’s stock. Goldman Sachs Group’s price target would suggest a potential upside of 54.29% from the company’s current price.
A number of other brokerages have also weighed in on STAN. Citigroup cut their target price on shares of Standard Chartered from GBX 915 ($11.92) to GBX 910 ($11.85) and set a “buy” rating for the company in a research report on Friday, June 8th. Shore Capital reiterated a “buy” rating on shares of Standard Chartered in a research report on Tuesday, July 31st. UBS Group set a GBX 800 ($10.42) target price on shares of Standard Chartered and gave the stock a “neutral” rating in a research report on Tuesday, July 3rd. Deutsche Bank cut their target price on shares of Standard Chartered from GBX 720 ($9.38) to GBX 675 ($8.79) and set a “hold” rating for the company in a research report on Wednesday, August 1st. Finally, HSBC upgraded shares of Standard Chartered to a “hold” rating and cut their target price for the stock from GBX 680 ($8.86) to GBX 670 ($8.73) in a research report on Wednesday, August 1st. Seven research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of GBX 740.88 ($9.65).
Shares of LON:STAN opened at GBX 612.50 ($7.98) on Wednesday. Standard Chartered has a twelve month low of GBX 678.80 ($8.84) and a twelve month high of GBX 864.20 ($11.26).
Standard Chartered PLC provides various banking products and services in the Greater China and North Asia, ASEAN and South Asia, Africa and the Middle East, and Europe and America. The company operates in four segments: Corporate & Institutional Banking, Private Banking, Commercial Banking, and Retail Banking.
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