Standard Chartered (LON:STAN) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Standard Chartered PLC (LON:STAN)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 1,806.54 and traded as high as GBX 2,054. Standard Chartered shares last traded at GBX 2,040, with a volume of 4,012,213 shares changing hands.

Wall Street Analysts Forecast Growth

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

Standard Chartered Stock Performance

The company has a fifty day moving average of GBX 1,918.06 and a two-hundred day moving average of GBX 1,806.54. The firm has a market capitalization of £44.59 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 0.80 and a beta of 0.61.

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.