Standard Chartered (LON:STAN) Reaches New 1-Year High - Time to Buy?

Key Points

• Standard Chartered shares hit a new 52-week high of GBX 1,450.15 ($19.60) during trading, indicating strong market interest and trading activity, with over 14 million shares exchanged.
• Analysts have mixed views on the stock, with JPMorgan raising their price target to GBX 1,670 and maintaining an "overweight" rating, while the average rating remains a "Hold" with a consensus target price of GBX 1,311.25.
• The company's current market capitalization stands at £33.14 billion, with a notable price-to-earnings ratio of 791.26, suggesting that investors are paying a high premium for its earnings potential.

Standard Chartered PLC (LON:STAN - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as GBX 1,450.15 ($19.60) and last traded at GBX 1,444 ($19.52), with a volume of 14309941 shares changing hands. The stock had previously closed at GBX 1,443 ($19.50).

Analyst Upgrades and Downgrades

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

Standard Chartered Stock Performance

The firm has a market cap of £33.14 billion, a price-to-earnings ratio of 791.26, a PEG ratio of 0.80 and a beta of 0.85. The business's 50-day moving average is GBX 1,378.31 and its 200-day moving average is GBX 1,215.24.

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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