Standard Chartered (LON:STAN) Hits New 52-Week High – What’s Next?

Standard Chartered PLC (LON:STAN) hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 2,160 and last traded at GBX 2,149.50, with a volume of 51789445 shares trading hands. The stock had previously closed at GBX 2,135.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of 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 reaffirmed a “buy” rating and set a GBX 2,250 target price on shares of Standard Chartered in a report on Thursday, April 30th. Shore Capital Group upgraded shares of Standard Chartered to a “sell” rating in a research report on Friday, May 1st. Finally, UBS Group reiterated a “buy” rating and issued a GBX 2,130 target price on shares of Standard Chartered in a research report on Monday, May 18th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of GBX 1,938.33.

Standard Chartered Trading Down 0.9%

The stock has a 50 day simple moving average of GBX 1,994.87 and a 200 day simple moving average of GBX 1,837.17. The firm has a market capitalization of £45.88 billion, a PE ratio of 10.22, a PEG ratio of 0.80 and a beta of 0.60.

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.