Standard Chartered (LON:STAN) Hits New 1-Year High – Here’s Why

Standard Chartered PLC (LON:STAN – Get Free Report)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as GBX 2,160 and last traded at GBX 2,149.50, with a volume of 51789445 shares changing hands. The stock had previously closed at GBX 2,135.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Standard Chartered from GBX 2,200 to GBX 2,220 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. UBS Group restated a “buy” rating and set a GBX 2,130 price objective on shares of Standard Chartered in a research report on Monday, May 18th. Jefferies Financial Group restated a “buy” rating and set a GBX 2,250 target price on shares of Standard Chartered in a research note on Thursday, April 30th. Finally, Shore Capital Group raised shares of Standard Chartered to a “sell” rating in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of GBX 1,938.33.

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Standard Chartered Trading Up 0.7%

The firm has a 50 day moving average of GBX 1,985.56 and a 200-day moving average of GBX 1,832.59. The company has a market cap of £46.74 billion, a P/E ratio of 10.41, a P/E/G ratio of 0.80 and a beta of 0.60.

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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