Standard Chartered (LON:STAN) Stock Price Passes Above Two Hundred Day Moving Average - Should You 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)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,165.29 ($15.77) and traded as high as GBX 1,428.50 ($19.33). Standard Chartered shares last traded at GBX 1,423.88 ($19.27), with a volume of 4,920,549 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on Standard Chartered from GBX 1,390 ($18.81) to GBX 1,490 ($20.16) and gave the stock an "overweight" rating in a research note on Tuesday, August 5th. Shore Capital lifted their price target on Standard Chartered from GBX 1,270 ($17.18) to GBX 1,355 ($18.33) and gave the stock a "hold" rating in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of GBX 1,233 ($16.68).

Standard Chartered Price Performance

The company has a market cap of £42.47 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 0.80 and a beta of 0.85. The firm's fifty day moving average price is GBX 1,273.01 and its 200-day moving average price is GBX 1,169.30.

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.