Standard Chartered (LON:STAN) Sets New 1-Year High - Here's Why

Key Points

• Standard Chartered PLC's stock has reached a new 52-week high of GBX 1,428.50 ($19.29) during recent trading, indicating strong market performance.
• Wall Street analysts have mixed ratings on the stock, with target prices ranging from GBX 1,270 ($17.15) to GBX 1,490 ($20.12), suggesting a cautious outlook overall.
• The company has a market capitalization of £42.41 billion and a PE ratio of 12.65, reflecting its position within the financial services industry.

Standard Chartered PLC (LON:STAN - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 1,428.50 ($19.33) and last traded at GBX 1,423.88 ($19.27), with a volume of 4920549 shares. The stock had previously closed at GBX 1,395 ($18.87).

Analyst Ratings Changes

A number of equities research analysts have commented on STAN shares. JPMorgan Chase & Co. increased their price objective on shares of Standard Chartered from GBX 1,390 ($18.81) to GBX 1,490 ($20.16) and gave the company an "overweight" rating in a research report on Tuesday, August 5th. Shore Capital increased their price objective on shares of Standard Chartered from GBX 1,270 ($17.18) to GBX 1,355 ($18.33) and gave the company a "hold" rating in a research report on Thursday, July 31st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Standard Chartered presently has an average rating of "Hold" and an average target price of GBX 1,233 ($16.68).

Standard Chartered Stock Performance

The business has a fifty day simple moving average of GBX 1,273.01 and a 200 day simple moving average of GBX 1,169.30. The company has a market cap of £42.47 billion, a P/E ratio of 12.66, 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.