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

Standard Chartered PLC (LON:STAN)’s share price hit a new 52-week high on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from GBX 2,200 to GBX 2,220. JPMorgan Chase & Co. currently has an overweight rating on the stock. Standard Chartered traded as high as GBX 1,935.20 and last traded at GBX 1,928.80, with a volume of 134235844 shares changing hands. The stock had previously closed at GBX 1,819.40.

A number of other analysts have also commented on STAN. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Standard Chartered from GBX 1,700 to GBX 1,900 and gave the stock a “hold” rating in a report on Friday, January 23rd. Citigroup raised their price target on Standard Chartered from GBX 1,675 to GBX 1,775 and gave the stock a “neutral” rating in a research report on Friday, January 9th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 2,250 price objective on shares of Standard Chartered in a research note on Thursday, April 30th. Finally, Shore Capital Group raised Standard Chartered to a “sell” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of GBX 1,900.

Insider Buying and Selling

In other Standard Chartered news, insider Peter Burrill sold 10,907 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of GBX 1,554, for a total value of £169,494.78. Also, insider Bill Winters bought 86,027 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was purchased at an average price of GBX 1,507 per share, for a total transaction of £1,296,426.89. 0.38% of the stock is currently owned by insiders.

Standard Chartered Stock Up 6.1%

The stock has a market capitalization of £42.75 billion, a P/E ratio of 9.35, a price-to-earnings-growth ratio of 0.80 and a beta of 0.52. The company has a fifty day simple moving average of GBX 1,685.31 and a two-hundred day simple moving average of GBX 1,701.49.

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.