Standard Chartered (LON:STAN) Reaches New 52-Week High Following Analyst Upgrade

Standard Chartered PLC (LON:STAN) hit a new 52-week high during mid-day trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from GBX 1,770 to GBX 1,880. JPMorgan Chase & Co. currently has an overweight rating on the stock. Standard Chartered traded as high as GBX 1,709.50 and last traded at GBX 1,700.19, with a volume of 4406376 shares trading hands. The stock had previously closed at GBX 1,681.

Separately, Shore Capital reissued a “hold” rating on shares of Standard Chartered in a report on Thursday, October 30th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Standard Chartered currently has an average rating of “Hold” and a consensus price target of GBX 1,363.75.

Standard Chartered Stock Up 0.1%

The company has a market cap of £37.75 billion, a P/E ratio of 8.77, a PEG ratio of 0.80 and a beta of 0.85. The company has a 50 day moving average price of GBX 1,532.15 and a 200-day moving average price of GBX 1,377.84.

About Standard Chartered

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas. The company operates in three segments: Corporate, Commercial & Institutional Banking; Consumer, Private & Business Banking; and Ventures.