Standard Chartered (LON:STAN) Shares Cross Above 200 Day Moving Average – Should You Sell?

Standard Chartered PLC (LON:STAN)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,602.80 and traded as high as GBX 1,807. Standard Chartered shares last traded at GBX 1,802, with a volume of 5,402,929 shares.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on STAN shares. Shore Capital Group reaffirmed a “hold” rating on shares of Standard Chartered in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Standard Chartered from GBX 1,700 to GBX 1,900 and gave the stock a “hold” rating in a research report on Friday, January 23rd. Citigroup increased their price objective on Standard Chartered from GBX 1,675 to GBX 1,775 and gave the company a “neutral” rating in a report on Friday, January 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Standard Chartered from GBX 1,880 to GBX 2,170 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of GBX 1,800.

Standard Chartered Stock Up 1.0%

The stock has a market capitalization of £40.58 billion, a price-to-earnings ratio of 9.51, a P/E/G ratio of 0.80 and a beta of 0.85. The company’s fifty day simple moving average is GBX 1,818.74 and its 200 day simple moving average is GBX 1,602.80.

Standard Chartered Company Profile

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. It offers retail products, such as deposits, mortgages, credit cards, and personal loans; wealth management products and services that include investments, portfolio management, insurance, and wealth advice; and transaction banking services, such as cash management, working capital, and trade financing products.