Citigroup Inc. Reiterates “Buy” Rating for Standard Chartered PLC (STAN)
Standard Chartered PLC (LON:STAN)‘s stock had its “buy” rating restated by equities researchers at Citigroup Inc. in a research report issued on Friday. They currently have a GBX 1,550 ($26.38) price target on the stock. Citigroup Inc.’s price objective would suggest a potential upside of 29.98% from the stock’s previous close.
Standard Chartered PLC (LON:STAN) traded down 0.87% on Friday, hitting GBX 1192.50. 7,592,710 shares of the company’s stock traded hands. Standard Chartered PLC has a 52-week low of GBX 1176.50 and a 52-week high of GBX 1621.50. The stock’s 50-day moving average is GBX 1311. and its 200-day moving average is GBX 1294.56. The company’s market cap is £28.874 billion.
A number of other analysts have also recently weighed in on STAN. Analysts at Sanford C. Bernstein reiterated an “underperform” rating on shares of Standard Chartered PLC in a research note on Tuesday. They now have a GBX 1,050 ($17.87) price target on the stock. Separately, analysts at Credit Suisse reiterated an “underperform” rating on shares of Standard Chartered PLC in a research note on Thursday, June 19th. They now have a GBX 1,200 ($20.42) price target on the stock. Finally, analysts at Nomura cut their price target on shares of Standard Chartered PLC from GBX 1,610 ($27.40) to GBX 1,580 ($26.89) in a research note on Thursday, June 19th. They now have a “buy” rating on the stock. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of GBX 1,440.95 ($24.52).
Standard Chartered PLC is a United Kingdom-based holding company. The Company operates globally and is principally engaged in the business of retail and commercial banking and the provision of other financial services.
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