Shore Capital Reaffirms Buy Rating for Standard Chartered (LON:STAN)

Shore Capital reaffirmed their buy rating on shares of Standard Chartered (LON:STAN) in a research report report published on Thursday morning, ThisIsMoney.Co.Uk reports.

Several other equities research analysts also recently weighed in on STAN. Goldman Sachs Group reaffirmed a buy rating and issued a GBX 690 ($8.49) target price (down previously from GBX 730 ($8.98)) on shares of Standard Chartered in a research report on Tuesday, July 14th. Credit Suisse Group raised Standard Chartered to a neutral rating and increased their price target for the company from GBX 395 ($4.86) to GBX 480 ($5.91) in a report on Thursday, July 23rd. Jefferies Financial Group raised Standard Chartered to a buy rating and increased their price target for the company from GBX 438 ($5.39) to GBX 575 ($7.08) in a report on Monday, June 1st. Canaccord Genuity reduced their price target on Standard Chartered from GBX 590 ($7.26) to GBX 550 ($6.77) and set a buy rating for the company in a report on Tuesday, June 2nd. Finally, UBS Group reissued a neutral rating on shares of Standard Chartered in a report on Monday, July 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of GBX 549.93 ($6.77).

Shares of LON STAN opened at GBX 385.80 ($4.75) on Thursday. Standard Chartered has a 1-year low of GBX 4.27 ($0.05) and a 1-year high of GBX 740.80 ($9.12). The business has a 50-day moving average of GBX 434.03 and a 200-day moving average of GBX 489.18. The company has a market capitalization of $12.18 billion and a price-to-earnings ratio of 8.05.

In other news, insider Byron Elmer Grote acquired 2,447 shares of the business’s stock in a transaction on Friday, May 15th. The shares were purchased at an average price of GBX 470 ($5.78) per share, for a total transaction of £11,500.90 ($14,153.21). Also, insider Bill Winters sold 16,470 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of GBX 391 ($4.81), for a total value of £64,397.70 ($79,248.95).

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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