Standard Chartered (LON:STAN) Given Underweight Rating at Barclays

Barclays reiterated their underweight rating on shares of Standard Chartered (LON:STAN) in a report released on Thursday, ThisIsMoney.Co.Uk reports.

Several other research analysts also recently commented on the company. Jefferies Financial Group raised Standard Chartered to a buy rating and increased their price objective for the company from GBX 438 ($5.39) to GBX 575 ($7.08) in a research note on Monday, June 1st. Goldman Sachs Group restated a buy rating and issued a GBX 690 ($8.49) target price (down from GBX 730 ($8.98)) on shares of Standard Chartered in a report on Tuesday, July 14th. BNP Paribas upgraded Standard Chartered to a neutral rating and dropped their target price for the company from GBX 520 ($6.40) to GBX 500 ($6.15) in a report on Monday, May 25th. Canaccord Genuity dropped their target price on Standard Chartered from GBX 590 ($7.26) to GBX 550 ($6.77) and set a buy rating for the company in a report on Tuesday, June 2nd. Finally, Shore Capital reiterated a buy rating on shares of Standard Chartered in a report on Wednesday, June 3rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of GBX 549.93 ($6.77).

LON STAN opened at GBX 385.80 ($4.75) on Thursday. The business has a fifty day moving average price of GBX 434.03 and a 200 day moving average price of GBX 489.18. Standard Chartered has a one year low of GBX 4.27 ($0.05) and a one year high of GBX 740.80 ($9.12). The company has a market cap of $12.18 billion and a P/E ratio of 8.05.

In other news, insider Byron Elmer Grote bought 2,447 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average cost of GBX 470 ($5.78) per share, for a total transaction of £11,500.90 ($14,153.21). Also, insider Bill Winters sold 16,470 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of GBX 391 ($4.81), for a total value of £64,397.70 ($79,248.95).

Standard Chartered Company Profile

Standard Chartered PLC., together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, and the Middle East. The company operates through Corporate & Institutional Banking, Retail banking, Commercial Banking, and Private Banking segments. It offers retail products, such as deposits, savings, mortgages, credit cards, and personal loans; wealth management that include investments, portfolio management, insurance and advices, and planning services; and transaction banking services, such as cash management, payments and transactions, securities services, and trade financing products.

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Analyst Recommendations for Standard Chartered (LON:STAN)

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