Citigroup Issues Positive Forecast for Standard Chartered (LON:STAN) Stock Price

Key Points

• Citigroup raised its price target for Standard Chartered from GBX 2,230 to GBX 2,370 while maintaining a “neutral” rating, implying 3.31% potential upside from the prior close.
• Analyst sentiment is broadly positive: Standard Chartered has a consensus “Moderate Buy” rating and an average price target of GBX 2,334, with JPMorgan also recently increasing its target to GBX 2,470.
• The stock opened at GBX 2,294 and has gained 1.2%; Chief Group Executive Bill Winters also bought 300,000 shares for approximately £6.66 million.

Standard Chartered (LON:STAN - Get Free Report) had its price objective boosted by investment analysts at Citigroup from GBX 2,230 to GBX 2,370 in a research report issued on Wednesday, Digital Look reports. The firm presently has a "neutral" rating on the financial services provider's stock. Citigroup's price target suggests a potential upside of 3.31% from the stock's previous close.

STAN has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on shares of Standard Chartered from GBX 2,330 to GBX 2,470 and gave the stock an "overweight" rating in a research report on Tuesday, September 8th. Jefferies Financial Group reissued a "buy" rating and issued a GBX 2,250 price target on shares of Standard Chartered in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 2,450 price objective on shares of Standard Chartered in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 2,334.

Standard Chartered Stock Up 1.2%

Shares of Standard Chartered stock opened at GBX 2,294 on Wednesday. The business has a 50 day moving average of GBX 2,202.70 and a 200 day moving average of GBX 1,968.11. Standard Chartered has a 52 week low of GBX 1,351.50 and a 52 week high of GBX 2,345. The company has a market cap of £50.07 billion, a PE ratio of 10.85, a P/E/G ratio of 0.80 and a beta of 0.59.

Insider Buying and Selling at Standard Chartered

In other Standard Chartered news, Chief Group Executive Bill Winters bought 300,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was purchased at an average cost of GBX 2,221 per share, for a total transaction of £6,663,000. Corporate insiders own 0.38% of the company's stock.

Standard Chartered Company Profile

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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