Standard Chartered PLC (STAN.L) - What Are Brokerages Thinking About This Stock?

Key Points

• Broker sentiment is moderately bullish: Six analysts give Standard Chartered an average “Moderate Buy” rating, with four buys, one hold and one sell. The average 12-month price target is GBX 2,334, above the stock’s GBX 2,123 opening price.
• Analysts recently raised or maintained targets: JPMorgan increased its target to GBX 2,470 with an overweight rating, while Citigroup lifted its target to GBX 2,370 but kept a neutral rating. Jefferies and Deutsche Bank maintained buy ratings with targets of GBX 2,250 and GBX 2,450, respectively.
• Strategic expansion and insider buying provide additional signals: Standard Chartered launched Bitcoin and Ether trading for affluent UAE clients and continues investing in payments technology, while CEO Bill Winters purchased 300,000 shares worth £6.663 million.

Standard Chartered PLC (LON:STAN - Get Free Report) has been given an average rating of "Moderate Buy" by the six brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is GBX 2,334.

Several research analysts have commented on STAN shares. JPMorgan Chase & Co. upped their price objective on shares of Standard Chartered from GBX 2,330 to GBX 2,470 and gave the stock an "overweight" rating in a report on Tuesday, September 8th. Citigroup lifted their target price on shares of Standard Chartered from GBX 2,230 to GBX 2,370 and gave the company a "neutral" rating in a research note on Wednesday, September 23rd. Jefferies Financial Group reiterated a "buy" rating and set a GBX 2,250 price target on shares of Standard Chartered in a research report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 2,450 price target on shares of Standard Chartered in a research report on Thursday, July 30th.

Standard Chartered Stock Up 0.7%

LON:STAN opened at GBX 2,123 on Thursday. The stock has a market cap of £46.20 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. The firm's fifty day simple moving average is GBX 2,224.52 and its 200 day simple moving average is GBX 2,038.20. Standard Chartered has a twelve month low of GBX 1,351.50 and a twelve month high of GBX 2,364.

Key Headlines Impacting Standard Chartered

Here are the key news stories impacting Standard Chartered this week:

• Positive Sentiment: UAE crypto trading launch expands wealth-management offering: Standard Chartered has begun offering direct Bitcoin and Ether trading to affluent clients in the United Arab Emirates. The move strengthens its digital-asset capabilities, could generate trading and custody fees, and positions the bank as an early regulated international-bank entrant in the UAE crypto market. However, revenue potential is likely modest initially, while regulatory, compliance and cryptocurrency-volatility risks remain. Standard Chartered Opens Bitcoin and Ethereum Trading to Wealthy UAE Clients
• Positive Sentiment: Technology and payments investment supports long-term growth: Coverage describes Standard Chartered’s continued advancement of payment infrastructure and banking technology. These investments could improve efficiency, transaction volumes and competitiveness across its international network, although the near-term effect on profits is unclear. Standard Chartered Advances Technology, Payment Infrastructure for the Future

Insider Buying and Selling

In other news, Chief Group Executive Bill Winters acquired 300,000 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were acquired at an average cost of GBX 2,221 per share, with a total value of £6,663,000. 0.38% of the stock is owned by company insiders.

About Standard Chartered

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.