Standard Chartered (LON:STAN) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Standard Chartered PLC (LON:STAN) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,602.80 and traded as high as GBX 1,807. Standard Chartered shares last traded at GBX 1,802, with a volume of 5,402,929 shares.

Wall Street Analysts Forecast Growth

STAN has been the subject of several research analyst reports. Shore Capital Group restated a “hold” rating on shares of Standard Chartered in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Standard Chartered from GBX 1,700 to GBX 1,900 and gave the stock a “hold” rating in a research report on Friday, January 23rd. Citigroup upped their price target on Standard Chartered from GBX 1,675 to GBX 1,775 and gave the company a “neutral” rating in a research note on Friday, January 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Standard Chartered from GBX 1,880 to GBX 2,170 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of GBX 1,800.

Standard Chartered Trading Up 1.0%

The company has a 50 day simple moving average of GBX 1,818.74 and a 200 day simple moving average of GBX 1,602.80. The stock has a market cap of £40.58 billion, a P/E ratio of 9.51, a PEG ratio of 0.80 and a beta of 0.85.

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.