Jefferies Financial Group Reiterates Buy Rating for Standard Chartered (LON:STAN)

Key Points

• Jefferies reiterated a Buy rating on Standard Chartered with a GBX 2,250 price target, implying roughly a 21.36% upside from the current share price.
• Analyst views are mixed—two Buy, two Hold and one Sell—resulting in a MarketBeat consensus rating of Hold and a consensus price target of GBX 1,890.
• STAN traded at GBX 1,854 (market cap £41.06bn, P/E 9.78); insider activity included Bill Winters buying 86,027 shares at GBX 1,507 while Peter Burrill sold 10,907 shares, with insiders owning 0.38%.

Standard Chartered (LON:STAN - Get Free Report)'s stock had its "buy" rating restated by investment analysts at Jefferies Financial Group in a report issued on Thursday,Digital Look reports. They presently have a GBX 2,250 price objective on the financial services provider's stock. Jefferies Financial Group's price target indicates a potential upside of 21.36% from the company's current price.

A number of other equities analysts also recently issued reports on STAN. JPMorgan Chase & Co. raised their price objective on shares of Standard Chartered from GBX 1,880 to GBX 2,170 and gave the stock an "overweight" rating in a report on Thursday, February 5th. Citigroup raised their price objective on shares of Standard Chartered from GBX 1,675 to GBX 1,775 and gave the stock a "neutral" rating in a report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Standard Chartered from GBX 1,700 to GBX 1,900 and gave the stock a "hold" rating in a report on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Standard Chartered presently has an average rating of "Hold" and a consensus price target of GBX 1,890.

Standard Chartered Stock Performance

Shares of STAN stock traded up GBX 64 on Thursday, reaching GBX 1,854. The stock had a trading volume of 54,779,555 shares, compared to its average volume of 47,280,230. The stock has a market cap of £41.06 billion, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 0.80 and a beta of 0.52. Standard Chartered has a 1 year low of GBX 1,038.50 and a 1 year high of GBX 1,924. The company has a 50 day simple moving average of GBX 1,683.40 and a 200 day simple moving average of GBX 1,694.08.

Insider Activity at Standard Chartered

In other Standard Chartered news, insider Peter Burrill sold 10,907 shares of Standard Chartered stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of GBX 1,554, for a total transaction of £169,494.78. Also, insider Bill Winters purchased 86,027 shares of the stock in a transaction on Thursday, March 19th. The shares were purchased at an average cost of GBX 1,507 per share, for a total transaction of £1,296,426.89. 0.38% of the stock is owned by 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.