Standard Chartered (LON:STAN) Price Target Raised to GBX 1,355

Key Points

• Shore Capital has raised its price target for Standard Chartered from GBX 1,270 to GBX 1,355, while maintaining a "hold" rating on the stock.
• As of Thursday, Standard Chartered's stock opened at GBX 1,373, reflecting a potential downside of 1.31% from the new target price.
• The bank operates in diverse regions including Asia, Africa, and Europe, offering products across Corporate, Commercial & Institutional Banking and Consumer Banking sectors.

Standard Chartered (LON:STAN - Free Report) had its price target boosted by Shore Capital from GBX 1,270 ($16.86) to GBX 1,355 ($17.99) in a research report sent to investors on Thursday, Marketbeat reports. They currently have a hold rating on the financial services provider's stock.

Standard Chartered Trading Down 1.2%

Shares of LON:STAN traded down GBX 16.69 ($0.22) on Thursday, hitting GBX 1,343.81 ($17.84). 5,136,950 shares of the company were exchanged, compared to its average volume of 10,453,677. The firm has a market capitalization of £40.58 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. Standard Chartered has a 1-year low of GBX 664.80 ($8.82) and a 1-year high of GBX 1,393 ($18.49). The stock's 50 day moving average price is GBX 1,229.94 and its 200 day moving average price is GBX 1,149.37.

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.