Standard Chartered (LON:STAN) Share Price Breaks Above Fifty Day Moving Average – Here’s What Happened

Standard Chartered PLC (LON:STAN) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of GBX 2,179.59 and traded as high as GBX 2,247. Standard Chartered shares last traded at GBX 2,219, with a volume of 5,658,046 shares.

Wall Street Analyst Weigh In

Several brokerages have issued reports on STAN. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 3,040 price objective on shares of Standard Chartered in a research report on Thursday, October 15th. Deutsche Bank restated a “buy” rating and set a GBX 2,450 target price on shares of Standard Chartered in a report on Thursday, October 29th. Citigroup raised their target price on Standard Chartered from GBX 2,230 to GBX 2,370 and gave the company a “neutral” rating in a research note on Wednesday, September 23rd. Finally, JPMorgan Chase & Co. raised their target price on Standard Chartered from GBX 2,330 to GBX 2,470 and gave the company an “overweight” rating in a research note on Tuesday, September 8th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,492.

Standard Chartered Trading Down 0.0%

The company has a 50 day moving average of GBX 2,179.59 and a 200 day moving average of GBX 1,977.84. The firm has a market cap of £48.01 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 0.80 and a beta of 0.56.

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.