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

Standard Chartered PLC (LON:STAN - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as GBX 1,293 ($17.44) and last traded at GBX 1,287.50 ($17.36), with a volume of 112560539 shares traded. The stock had previously closed at GBX 1,258 ($16.97).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reaffirmed a "buy" rating on shares of Standard Chartered in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Standard Chartered presently has an average rating of "Moderate Buy" and a consensus price target of GBX 1,085 ($14.63).

Standard Chartered Stock Down 0.4%

The firm has a 50 day moving average price of GBX 1,166.97 and a 200 day moving average price of GBX 1,116.11. The stock has a market cap of £38.71 billion, a P/E ratio of 11.54, a P/E/G 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.