Standard Chartered (STAN) Rating Increased to Overweight at J P Morgan Chase & Co
Standard Chartered (LON:STAN) was upgraded by analysts at J P Morgan Chase & Co to an “overweight” rating in a report issued on Tuesday. The brokerage currently has a GBX 900 ($12.11) price objective on the financial services provider’s stock, up from their prior price objective of GBX 800 ($10.77). J P Morgan Chase & Co’s target price would indicate a potential upside of 18.62% from the stock’s previous close.
Several other equities analysts have also recently weighed in on STAN. reaffirmed a “reduce” rating and set a GBX 620 ($8.34) price target on shares of Standard Chartered in a research note on Monday, September 18th. Deutsche Bank reaffirmed a “sell” rating and set a GBX 668 ($8.99) price target on shares of Standard Chartered in a research note on Tuesday, September 19th. Berenberg Bank decreased their price target on shares of Standard Chartered from GBX 725 ($9.76) to GBX 700 ($9.42) and set a “hold” rating for the company in a research note on Wednesday, September 20th. Credit Suisse Group raised their price target on shares of Standard Chartered from GBX 615 ($8.28) to GBX 620 ($8.34) and gave the stock an “underperform” rating in a research note on Tuesday, October 10th. Finally, Societe Generale reaffirmed a “hold” rating on shares of Standard Chartered in a research note on Monday, October 23rd. Eight research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of GBX 721.82 ($9.71).
Shares of Standard Chartered (STAN) traded up GBX 6.84 ($0.09) on Tuesday, hitting GBX 758.74 ($10.21). 9,598,723 shares of the stock traded hands, compared to its average volume of 7,460,000. Standard Chartered has a one year low of GBX 646.40 ($8.70) and a one year high of GBX 860 ($11.57).
About Standard Chartered
Standard Chartered PLC is an international banking company. The Banks’s segments include Corporate & Institutional Banking, Retail Banking, Commercial Banking and Private Banking. Its Corporate & Institutional Banking segment allows companies and financial institutions to operate and trade globally, and its Private Banking segment supports high net worth individuals with their banking needs across borders and offers access to global investment opportunities.
Receive News & Ratings for Standard Chartered PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Chartered PLC and related companies with MarketBeat.com's FREE daily email newsletter.