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Standard Chartered (LON:STAN) Sets New 12-Month High - What's Next?

Standard Chartered logo with Financial Services background

Key Points

  • Standard Chartered PLC shares reached a new 52-week high of GBX 1,393.50 ($18.61) during trading, reflecting a significant increase from the previous close of GBX 1,371.50 ($18.32).
  • JPMorgan Chase & Co. has upgraded its price target for the stock from GBX 1,390 ($18.57) to GBX 1,490 ($19.90), assigning an "overweight" rating.
  • The company currently has a market capitalization of £41.46 billion and a consensus rating of "Hold" from analysts, with a price target average of GBX 1,233 ($16.47).
  • Want stock alerts on Standard Chartered? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Shares of Standard Chartered PLC (LON:STAN - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 1,393.50 ($18.61) and last traded at GBX 1,383.50 ($18.48), with a volume of 128916836 shares. The stock had previously closed at GBX 1,371.50 ($18.32).

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Standard Chartered from GBX 1,390 ($18.57) to GBX 1,490 ($19.90) and gave the stock an "overweight" rating in a report on Tuesday. Shore Capital raised their target price on Standard Chartered from GBX 1,270 ($16.97) to GBX 1,355 ($18.10) and gave the stock 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of GBX 1,233 ($16.47).

Read Our Latest Research Report on STAN

Standard Chartered Stock Up 0.1%

The company has a market cap of £41.46 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. The firm's 50-day moving average price is GBX 1,238.76 and its 200-day moving average price is GBX 1,154.40.

Standard Chartered Company Profile

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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