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

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).

Standard Chartered PLC (LON:STAN - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 1,393.50 ($18.73) and last traded at GBX 1,383.50 ($18.60), with a volume of 128916836 shares changing hands. The stock had previously closed at GBX 1,371.50 ($18.44).

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on STAN. JPMorgan Chase & Co. lifted their price objective on shares of Standard Chartered from GBX 1,390 ($18.69) to GBX 1,490 ($20.03) and gave the company an "overweight" rating in a research note on Tuesday, August 5th. Shore Capital lifted their price target on shares of Standard Chartered from GBX 1,270 ($17.07) to GBX 1,355 ($18.22) and gave the stock a "hold" rating in a research note on Thursday, July 31st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Standard Chartered has a consensus rating of "Hold" and an average target price of GBX 1,233 ($16.58).

Standard Chartered Price Performance

The company has a market cap of £42.12 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 0.80 and a beta of 0.85. The firm's fifty day moving average price is GBX 1,251.98 and its 200-day moving average price is GBX 1,161.25.

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.