JPMorgan Chase & Co. Issues Positive Forecast for Standard Chartered (LON:STAN) Stock Price

Key Points

• JPMorgan Chase & Co. has raised its target price for Standard Chartered's stock from GBX 1,390 to GBX 1,490, indicating an expected upside of 8.13% from the current price.
• Shore Capital also increased its price objective on Standard Chartered from GBX 1,270 to GBX 1,355, maintaining a "hold" rating on the stock.
• The current consensus rating for Standard Chartered is "Hold," with a consensus price target of GBX 1,233, reflecting mixed analyst ratings with three holds and two buys.

Standard Chartered (LON:STAN - Free Report) had its target price lifted by JPMorgan Chase & Co. from GBX 1,390 ($18.69) to GBX 1,490 ($20.04) in a report issued on Tuesday morning, MarketBeat.com reports. The brokerage currently has an overweight rating on the financial services provider's stock.

Separately, Shore Capital boosted their target price on shares of Standard Chartered from GBX 1,270 ($17.08) to GBX 1,355 ($18.22) and gave the stock a "hold" rating in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of GBX 1,233 ($16.58).

Standard Chartered Stock Performance

LON:STAN traded up GBX 1.55 ($0.02) during trading hours on Tuesday, reaching GBX 1,373.05 ($18.46). The company's stock had a trading volume of 10,151,160 shares, compared to its average volume of 10,334,296. The stock has a 50 day moving average price of GBX 1,247.39 and a two-hundred day moving average price of GBX 1,157.93. The company has a market capitalization of £41.46 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. Standard Chartered has a 12 month low of GBX 685 ($9.21) and a 12 month high of GBX 1,393.50 ($18.74).

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.