Standard Chartered (LON:STAN) Reaches New 1-Year High - Should You Buy?

Key Points

• Standard Chartered PLC reached a new 52-week high, trading at GBX 1,366 ($18.24) before closing at GBX 1,359.49 ($18.16) with a trading volume of 5.78 million shares.
• The company holds a market capitalization of £41.38 billion and has a consensus rating of "Moderate Buy" from analysts, with three buy ratings and two hold ratings.
• Shore Capital recently reiterated a "buy" rating on Standard Chartered's shares, reflecting positive sentiment toward the stock's future performance.

Shares of Standard Chartered PLC (LON:STAN - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 1,366 ($18.13) and last traded at GBX 1,359.49 ($18.04), with a volume of 5779920 shares trading hands. The stock had previously closed at GBX 1,334.50 ($17.71).

Analyst Ratings Changes

Separately, Shore Capital lifted their target price on shares of Standard Chartered from GBX 1,270 ($16.86) to GBX 1,355 ($17.99) and gave the company a "hold" rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of GBX 1,139 ($15.12).

Standard Chartered Trading Down 1.2%

The company has a 50 day simple moving average of GBX 1,226.07 and a two-hundred day simple moving average of GBX 1,147.16. The firm has a market capitalization of £40.58 billion, a P/E ratio of 12.10, a P/E/G ratio of 0.80 and a beta of 0.85.

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.