Standard Chartered’s (STAN) Conviction-Buy Rating Reaffirmed at Goldman Sachs Group

Goldman Sachs Group reissued their conviction-buy rating on shares of Standard Chartered (LON:STAN) in a research report sent to investors on Thursday, ThisIsMoney.Co.Uk reports. They currently have a GBX 1,020 ($13.33) target price on the financial services provider’s stock, up from their previous target price of GBX 990 ($12.94).

Several other brokerages also recently weighed in on STAN. Deutsche Bank lifted their target price on Standard Chartered from GBX 630 ($8.23) to GBX 700 ($9.15) and gave the company a hold rating in a research note on Tuesday, November 5th. Societe Generale raised Standard Chartered to a buy rating in a research note on Tuesday, September 10th. Shore Capital reaffirmed a buy rating on shares of Standard Chartered in a research note on Wednesday, October 30th. Barclays reaffirmed an underweight rating and set a GBX 630 ($8.23) target price (up previously from GBX 620 ($8.10)) on shares of Standard Chartered in a research note on Thursday, October 31st. Finally, Citigroup reaffirmed a neutral rating on shares of Standard Chartered in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of GBX 731.73 ($9.56).

Standard Chartered stock traded down GBX 0.40 ($0.01) during mid-day trading on Thursday, hitting GBX 703.20 ($9.19). 6,317,379 shares of the company’s stock traded hands, compared to its average volume of 7,690,000. The firm has a 50 day moving average price of GBX 681.21 and a 200 day moving average price of GBX 679.55. The company has a market cap of $22.48 billion and a PE ratio of 38.64. Standard Chartered has a one year low of GBX 570.70 ($7.46) and a one year high of GBX 742.60 ($9.70).

About Standard Chartered

Standard Chartered PLC., together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, and the Middle East. The company operates through Corporate & Institutional Banking, Retail banking, Commercial Banking, and Private Banking segments. It offers retail products, such as deposits, savings, mortgages, credit cards, and personal loans; wealth management that include investments, portfolio management, insurance and advices, and planning services; and transaction banking services, such as cash management, payments and transactions, securities services, and trade financing products.

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Analyst Recommendations for Standard Chartered (LON:STAN)

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