Standard Chartered (LON:STAN) Reaches New 12-Month High – Should You Buy?

Standard Chartered PLC (LON:STAN)’s share price reached a new 52-week high on Monday . The company traded as high as GBX 2,083 and last traded at GBX 2,082, with a volume of 345987063 shares traded. The stock had previously closed at GBX 2,044.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Shore Capital Group upgraded Standard Chartered to a “sell” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of Standard Chartered from GBX 2,200 to GBX 2,220 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Jefferies Financial Group restated a “buy” rating and set a GBX 2,250 price target on shares of Standard Chartered in a research note on Thursday, April 30th. Finally, UBS Group reaffirmed a “buy” rating and issued a GBX 2,130 price target on shares of Standard Chartered in a report on Monday, May 18th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Standard Chartered currently has an average rating of “Hold” and an average price target of GBX 1,938.33.

Standard Chartered Stock Performance

The company has a 50 day simple moving average of GBX 1,895.54 and a two-hundred day simple moving average of GBX 1,795.65. The firm has a market cap of £45.03 billion, a PE ratio of 9.98, a P/E/G ratio of 0.80 and a beta of 0.61.

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.