Standard Chartered (STAN) Price Target Cut to GBX 945

Standard Chartered (LON:STAN) had its price objective trimmed by Goldman Sachs Group from GBX 970 ($12.64) to GBX 945 ($12.31) in a research report report published on Wednesday. The brokerage currently has a conviction-buy rating on the financial services provider’s stock.

A number of other analysts have also recently commented on the stock. Shore Capital reaffirmed a buy rating on shares of Standard Chartered in a report on Tuesday, July 31st. Credit Suisse Group reaffirmed an underperform rating on shares of Standard Chartered in a report on Thursday, August 23rd. Citigroup reduced their target price on shares of Standard Chartered from GBX 915 ($11.92) to GBX 910 ($11.85) and set a buy rating for the company in a report on Friday, June 8th. Deutsche Bank reduced their target price on shares of Standard Chartered from GBX 725 ($9.44) to GBX 671 ($8.74) and set a hold rating for the company in a report on Monday, July 16th. Finally, Berenberg Bank reaffirmed a buy rating and set a GBX 920 ($11.98) target price on shares of Standard Chartered in a report on Friday, July 20th. Seven analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of GBX 740.88 ($9.65).

Shares of STAN stock opened at GBX 612.10 ($7.97) on Wednesday. Standard Chartered has a 12 month low of GBX 678.80 ($8.84) and a 12 month high of GBX 864.20 ($11.26).

The company also recently declared a dividend, which will be paid on Monday, October 22nd. Shareholders of record on Thursday, August 9th will be given a $0.06 dividend. The ex-dividend date is Thursday, August 9th. This represents a dividend yield of 0.68%.

About Standard Chartered

Standard Chartered PLC provides various banking products and services in the Greater China and North Asia, ASEAN and South Asia, Africa and the Middle East, and Europe and America. The company operates in four segments: Corporate & Institutional Banking, Private Banking, Commercial Banking, and Retail Banking.

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Analyst Recommendations for Standard Chartered (LON:STAN)

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