Standard Chartered (LON:STAN) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Standard Chartered's shares crossed above their 200-day moving average, signaling potential positive momentum, with the stock currently trading at GBX 1,423.88 ($19.22).
• Equities analysts have upgraded their price targets for Standard Chartered, with Shore Capital raising it to GBX 1,355 ($18.29) and JPMorgan increasing it to GBX 1,490 ($20.12), reflecting a generally positive outlook.
• The company has a market capitalization of £42.65 billion and operates various banking services across multiple regions, including Asia and Africa.

Standard Chartered PLC (LON:STAN - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,165.29 ($15.79) and traded as high as GBX 1,428.50 ($19.36). Standard Chartered shares last traded at GBX 1,423.88 ($19.30), with a volume of 4,920,549 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Standard Chartered from GBX 1,390 ($18.84) to GBX 1,490 ($20.20) and gave the company an "overweight" rating in a research report on Tuesday, August 5th. Shore Capital boosted their price objective on shares of Standard Chartered from GBX 1,270 ($17.21) to GBX 1,355 ($18.37) and gave the company a "hold" rating in a research report on Thursday, July 31st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Standard Chartered presently has an average rating of "Hold" and an average target price of GBX 1,233 ($16.71).

Standard Chartered Trading Down 0.6%

The company has a market cap of £42.21 billion, a P/E ratio of 12.59, a PEG ratio of 0.80 and a beta of 0.85. The stock's 50-day moving average price is GBX 1,277.33 and its 200-day moving average price is GBX 1,172.25.

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.