Standard Chartered (LON:STAN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised its price target on Standard Chartered to GBX 2,220 and keeps an overweight rating, implying roughly a 15% upside from the current price.
• The analyst consensus is a Hold with a consensus target of GBX 1,900 and a split of 2 Buy, 2 Hold and 1 Sell; the stock opened at GBX 1,931 and is trading near its 12‑month high.
• Insider activity: insider Bill Winters bought 86,027 shares at GBX 1,507 on March 19, while overall insider ownership remains low at about 0.38%.

Standard Chartered (LON:STAN - Get Free Report) had its price objective upped by JPMorgan Chase & Co. from GBX 2,200 to GBX 2,220 in a report issued on Wednesday,Digital Look reports. The firm presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 14.97% from the company's current price.

Other equities analysts also recently issued research reports about the company. Shore Capital Group upgraded Standard Chartered to a "sell" rating in a research note on Friday, May 1st. Citigroup boosted their target price on Standard Chartered from GBX 1,675 to GBX 1,775 and gave the stock a "neutral" rating in a research note on Friday, January 9th. Jefferies Financial Group restated a "buy" rating and issued a GBX 2,250 target price on shares of Standard Chartered in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Standard Chartered from GBX 1,700 to GBX 1,900 and gave the stock a "hold" rating in a research note on Friday, January 23rd. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Standard Chartered presently has a consensus rating of "Hold" and a consensus target price of GBX 1,900.

Standard Chartered Stock Up 6.1%

Shares of LON STAN opened at GBX 1,931 on Wednesday. Standard Chartered has a twelve month low of GBX 1,038.50 and a twelve month high of GBX 1,938. The stock's 50 day moving average price is GBX 1,685.31 and its 200-day moving average price is GBX 1,701.49. The company has a market capitalization of £42.77 billion, a PE ratio of 9.35, a PEG ratio of 0.80 and a beta of 0.52.

Insider Activity at Standard Chartered

In other news, insider Bill Winters acquired 86,027 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average price of GBX 1,507 per share, for a total transaction of £1,296,426.89. Also, insider Peter Burrill sold 10,907 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of GBX 1,554, for a total value of £169,494.78. 0.38% of the stock is currently owned by corporate insiders.

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. It offers retail products, such as deposits, mortgages, credit cards, and personal loans; wealth management products and services that include investments, portfolio management, insurance, and wealth advice; and transaction banking services, such as cash management, working capital, and trade financing products.

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