Standard Chartered (LON:STAN) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Standard Chartered PLC (LON:STANGet Free Report)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,832.59 and traded as high as GBX 2,137. Standard Chartered shares last traded at GBX 2,135, with a volume of 529,261,500 shares.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Report on Standard Chartered

Standard Chartered Stock Up 1.7%

The firm has a market capitalization of £46.43 billion, a price-to-earnings ratio of 10.34, a P/E/G ratio of 0.80 and a beta of 0.60. The stock’s fifty day moving average is GBX 1,985.56 and its two-hundred day moving average is GBX 1,832.59.

About Standard Chartered

(Get Free Report)

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.

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