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

Key Points

• Standard Chartered PLC's stock surpassed its 200-day moving average, trading at GBX 1,479.50 ($19.83) after hitting a high of GBX 1,487.50 ($19.94).
• Analysts have mixed ratings for Standard Chartered, with a recent target price increase from JPMorgan to GBX 1,670 and a consensus rating of "Hold" with a target price of GBX 1,311.25.
• The company's market capitalization stands at £33.63 billion, featuring a high P/E ratio of 806.76, indicating investor expectations for future growth.

Standard Chartered PLC (LON:STAN - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,238.01 ($16.59) and traded as high as GBX 1,487.50 ($19.94). Standard Chartered shares last traded at GBX 1,479.50 ($19.83), with a volume of 5,895,325 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Standard Chartered from GBX 1,490 to GBX 1,670 and gave the company an "overweight" rating in a research report on Tuesday, September 9th. Shore Capital upped their target price on Standard Chartered from GBX 1,270 to GBX 1,355 and gave the company a "hold" rating in a research report 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of GBX 1,311.25.

Standard Chartered Trading Down 0.8%

The firm has a market capitalization of £33.63 billion, a PE ratio of 806.76, a P/E/G ratio of 0.80 and a beta of 0.85. The business has a 50 day moving average price of GBX 1,405.92 and a 200-day moving average price of GBX 1,238.01.

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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