Standard Chartered (LON:STAN) Hits New 12-Month High - Here's What Happened

Key Points

• Standard Chartered PLC reached a new 52-week high at GBX 1,436.19 ($19.44) on Thursday, reflecting significant trading activity with nearly 13.4 million shares exchanged.
• Analysts have revised price targets for Standard Chartered, with JPMorgan raising it from GBX 1,490 to GBX 1,670, indicating a generally positive outlook despite a consensus rating of "Hold."
• The company has a market capitalization of £32.80 billion and its stock is trading above its 50-day and 200-day simple moving averages, suggesting strong performance in the market.

Standard Chartered PLC (LON:STAN - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as GBX 1,436.19 ($19.44) and last traded at GBX 1,434 ($19.41), with a volume of 13392957 shares changing hands. The stock had previously closed at GBX 1,420 ($19.22).

Analysts Set New Price Targets

A number of analysts have recently weighed in on STAN shares. Shore Capital upped their target price on Standard Chartered from GBX 1,270 to GBX 1,355 and gave the company a "hold" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on Standard Chartered from GBX 1,490 to GBX 1,670 and gave the stock an "overweight" rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Standard Chartered currently has a consensus rating of "Hold" and an average target price of GBX 1,311.25.

Standard Chartered Stock Performance

The business has a fifty day simple moving average of GBX 1,349.95 and a 200-day simple moving average of GBX 1,204.81. The firm has a market cap of £32.80 billion, a price-to-earnings ratio of 783.14, a PEG ratio of 0.80 and a beta of 0.85.

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.

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