Standard Chartered (LON:STAN) Sets New 12-Month High Following Analyst Upgrade

Standard Chartered PLC (LON:STAN)’s stock price hit a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. upgraded the stock to an overweight rating. JPMorgan Chase & Co. now has a GBX 2,270 price target on the stock, up from their previous price target of GBX 2,220. Standard Chartered traded as high as GBX 2,161 and last traded at GBX 2,156, with a volume of 43925191 shares. The stock had previously closed at GBX 2,107.

STAN has been the subject of a number of other research reports. Shore Capital Group raised shares of Standard Chartered to a “sell” rating in a report on Friday, May 1st. Jefferies Financial Group restated a “buy” rating and set a GBX 2,250 price objective on shares of Standard Chartered in a research report on Thursday, April 30th. Finally, UBS Group reaffirmed a “buy” rating and issued a GBX 2,130 price objective on shares of Standard Chartered in a research note on Monday, May 18th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Standard Chartered has a consensus rating of “Hold” and a consensus target price of GBX 1,946.67.

Standard Chartered Stock Performance

The company’s fifty day moving average price is GBX 2,008.79 and its 200-day moving average price is GBX 1,843.04. The stock has a market cap of £46.80 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 0.80 and a beta of 0.60.

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. 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.