Standard Chartered (LON:STAN) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Standard Chartered's stock price has surpassed its 200-day moving average of GBX 1,176.99, trading as high as GBX 1,358.50.
• JPMorgan Chase & Co. raised their price target for Standard Chartered from GBX 1,390 to GBX 1,490, maintaining an "overweight" rating.
• The stock currently has a market capitalization of £41.05 billion and a consensus rating of "Hold" from analysts.

Standard Chartered PLC (LON:STAN - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,176.99 ($15.87) and traded as high as GBX 1,358.50 ($18.32). Standard Chartered shares last traded at GBX 1,352.49 ($18.24), with a volume of 5,217,899 shares changing hands.

Analyst Upgrades and Downgrades

STAN has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of Standard Chartered from GBX 1,390 to GBX 1,490 and gave the company an "overweight" rating in a report on Tuesday, August 5th. Shore Capital raised their price target on shares of Standard Chartered from GBX 1,270 to GBX 1,355 and gave the company a "hold" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of GBX 1,266.25.

Standard Chartered Trading Down 1.6%

The company has a market capitalization of £42.06 billion, a price-to-earnings ratio of 12.54, 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 1,306.85 and its two-hundred day moving average price is GBX 1,186.28.

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.