Standard Chartered (LON:STAN) Given "Buy" Rating at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank reaffirmed a “Buy” rating on Standard Chartered and set a GBX 2,450 price target, implying approximately 15.19% upside from the current price.
• Analyst sentiment is broadly positive: Standard Chartered has an overall “Moderate Buy” rating and an average target price of GBX 2,492, based on four Buy, one Hold, and one Sell rating.
• The stock traded at GBX 2,127 after rising GBX 59, while Chief Group Executive Bill Winters purchased 300,000 shares for approximately £6.66 million.

Standard Chartered (LON:STAN - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Deutsche Bank Aktiengesellschaft in a report issued on Thursday, Digital Look reports. They presently have a GBX 2,450 price objective on the financial services provider's stock. Deutsche Bank Aktiengesellschaft's price objective suggests a potential upside of 15.19% from the stock's current price.

A number of other brokerages have also recently weighed in on STAN. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 3,040 price target on shares of Standard Chartered in a research report on Thursday, October 15th. JPMorgan Chase & Co. increased their price objective on Standard Chartered from GBX 2,330 to GBX 2,470 and gave the company an "overweight" rating in a research report on Tuesday, September 8th. Finally, Citigroup raised their price objective on shares of Standard Chartered from GBX 2,230 to GBX 2,370 and gave the stock a "neutral" rating in a research note on Wednesday, September 23rd. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Standard Chartered currently has an average rating of "Moderate Buy" and an average target price of GBX 2,492.

Standard Chartered Price Performance

Standard Chartered stock traded up GBX 59 during midday trading on Thursday, reaching GBX 2,127. The stock had a trading volume of 90,686,555 shares, compared to its average volume of 37,213,262. The firm has a market cap of £46.28 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 0.80 and a beta of 0.59. The firm's fifty day simple moving average is GBX 2,189.70 and its two-hundred day simple moving average is GBX 1,963.95. Standard Chartered has a twelve month low of GBX 1,471.50 and a twelve month high of GBX 2,364.

Insider Buying and Selling at Standard Chartered

In other Standard Chartered news, Chief Group Executive Bill Winters bought 300,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were purchased at an average price of GBX 2,221 per share, for a total transaction of £6,663,000. Company 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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