Standard Chartered (LON:STAN) Hits New 52-Week High - Still a Buy?

Key Points

• Standard Chartered PLC reached a new 52-week high of GBX 1,487 ($19.97) during trading, significantly up from its previous close of GBX 1,443.50 ($19.38).
• JPMorgan Chase & Co. raised their price target on the stock from GBX 1,490 to GBX 1,670, now rated as "overweight," while other analysts have mixed ratings, leading to a consensus of "Hold."
• The company has a market cap of £33.91 billion and has seen its stock performance improve with a fifty-day moving average of GBX 1,403.73.

Shares of Standard Chartered PLC (LON:STAN - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 1,487 ($19.97) and last traded at GBX 1,486 ($19.95), with a volume of 14137947 shares trading hands. The stock had previously closed at GBX 1,443.50 ($19.38).

Analyst Ratings Changes

A number of research firms have recently commented on STAN. JPMorgan Chase & Co. upped their price objective on Standard Chartered from GBX 1,490 to GBX 1,670 and gave the stock an "overweight" rating in a report on Tuesday, September 9th. Shore Capital raised their target price on Standard Chartered from GBX 1,270 to GBX 1,355 and gave the company a "hold" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of GBX 1,311.25.

Standard Chartered Price Performance

The stock has a fifty day moving average price of GBX 1,403.73 and a two-hundred day moving average price of GBX 1,236.33. The company has a market cap of £33.91 billion, a P/E ratio of 813.36, a PEG 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.

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