Standard Chartered (LON:STAN) Hits New 1-Year High – What’s Next?

Standard Chartered PLC (LON:STAN) reached a new 52-week high during trading on Tuesday . The company traded as high as GBX 2,174 and last traded at GBX 2,136, with a volume of 4251751 shares changing hands. The stock had previously closed at GBX 2,137.

Wall Street Analyst Weigh In

Several brokerages recently commented on STAN. UBS Group reiterated a “buy” rating and set a GBX 2,130 price target on shares of Standard Chartered in a research note on Monday, May 18th. JPMorgan Chase & Co. upgraded shares of Standard Chartered to an “overweight” rating and upped their price objective for the company from GBX 2,220 to GBX 2,270 in a research note on Tuesday, July 21st. Shore Capital Group raised Standard Chartered to a “sell” rating in a report on Friday, May 1st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 2,250 price objective on shares of Standard Chartered in a report on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of GBX 1,946.67.

Standard Chartered Price Performance

The company has a 50 day moving average price of GBX 2,027.78 and a 200 day moving average price of GBX 1,851.41. The firm has a market cap of £46.21 billion, a PE ratio of 10.29, a PEG ratio of 0.80 and a beta of 0.60.

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.