Standard Chartered (LON:STAN) Hits New 52-Week High – Time to Buy?

Standard Chartered PLC (LON:STAN) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 1,813 and last traded at GBX 1,811.50, with a volume of 22075451 shares traded. The stock had previously closed at GBX 1,805.50.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on STAN shares. Shore Capital reissued a “hold” rating on shares of Standard Chartered in a research note on Thursday, October 30th. JPMorgan Chase & Co. upped their target price on Standard Chartered from GBX 1,770 to GBX 1,880 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of GBX 1,363.75.

Standard Chartered Trading Up 0.4%

The firm’s 50-day simple moving average is GBX 1,629.32 and its two-hundred day simple moving average is GBX 1,447.56. The stock has a market capitalization of £41.17 billion, a PE ratio of 9.56, a PEG 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. 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.