JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Standard Chartered (LON:STAN) Stock

Standard Chartered (LON:STAN) had its price target hoisted by JPMorgan Chase & Co. from GBX 2,270 to GBX 2,330 in a research note issued on Monday,London Stock Exchange reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 5.00% from the stock’s previous close.

Several other research firms have also recently weighed in on STAN. Citigroup upped their price objective on Standard Chartered from GBX 2,130 to GBX 2,230 and gave the stock a “neutral” rating in a research report on Thursday. UBS Group reissued a “buy” rating and issued a GBX 2,130 target price on shares of Standard Chartered in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 2,450 target price on shares of Standard Chartered in a research note on Thursday. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 2,250 price target on shares of Standard Chartered in a research report on Wednesday, July 29th. Finally, Shore Capital Group raised shares of Standard Chartered to a “sell” rating in a research note on Friday, May 1st. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 2,278.

Standard Chartered Trading Up 1.4%

Shares of LON STAN opened at GBX 2,219 on Monday. The company has a fifty day moving average price of GBX 2,048.25 and a 200 day moving average price of GBX 1,861.65. The firm has a market cap of £48.25 billion, a PE ratio of 10.75, a PEG ratio of 0.80 and a beta of 0.60. Standard Chartered has a 1-year low of GBX 1,285 and a 1-year high of GBX 2,254.

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.