Standard Chartered (LON:STAN) Sets New 1-Year High – Here’s What Happened

Standard Chartered PLC (LON:STAN)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 970.40 ($12.32) and last traded at GBX 970.20 ($12.32), with a volume of 21227018 shares. The stock had previously closed at GBX 959.80 ($12.18).

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on STAN shares. Berenberg Bank reissued a “buy” rating and issued a GBX 1,100 ($13.96) target price on shares of Standard Chartered in a report on Wednesday, August 21st. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a report on Monday, September 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Standard Chartered from GBX 1,000 ($12.69) to GBX 1,020 ($12.95) and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,002 ($12.72).

Standard Chartered Stock Down 0.6 %

The firm’s fifty day simple moving average is GBX 864.84 and its 200-day simple moving average is GBX 786.34. The company has a market cap of £23.86 billion, a PE ratio of 1,125.75, a P/E/G ratio of 0.80 and a beta of 0.85.

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.