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

Key Points

• Standard Chartered PLC shares have crossed above their 200-day moving average, indicating positive momentum as the stock traded as high as GBX 1,425 ($18.97).
• Analysts from JPMorgan Chase and Shore Capital have raised their price targets for the stock, with JPMorgan increasing it to GBX 1,690 and maintaining an "overweight" rating.
• The company has a market cap of £32.62 billion and currently has an average rating of "Hold" from analysts with a consensus target price of GBX 1,316.25.

Standard Chartered PLC (LON:STAN - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,264.78 ($16.84) and traded as high as GBX 1,425 ($18.97). Standard Chartered shares last traded at GBX 1,423.13 ($18.95), with a volume of 2,393,209 shares.

Wall Street Analysts Forecast Growth

STAN has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of Standard Chartered from GBX 1,670 to GBX 1,690 and gave the stock an "overweight" rating in a research note on Monday, October 20th. Shore Capital increased 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 research note on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of GBX 1,316.25.

Standard Chartered Stock Up 1.5%

The company has a market cap of £32.62 billion, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. The company's 50-day moving average is GBX 1,414.54 and its 200 day moving average is GBX 1,264.78.

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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