Standard Chartered (LON:STAN) Price Target Raised to GBX 1,775

Standard Chartered (LON:STAN) had its target price upped by Citigroup from GBX 1,675 to GBX 1,775 in a note issued to investors on Friday,Digital Look reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price target indicates a potential downside of 1.01% from the company’s previous close.

A number of other research firms also recently issued reports on STAN. JPMorgan Chase & Co. raised their price objective on shares of Standard Chartered from GBX 1,770 to GBX 1,880 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Shore Capital reaffirmed a “hold” rating on shares of Standard Chartered in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Standard Chartered presently has a consensus rating of “Hold” and an average price target of GBX 1,495.

Standard Chartered Stock Down 0.7%

STAN stock traded down GBX 13.45 during midday trading on Friday, reaching GBX 1,793.05. 2,999,060 shares of the company’s stock traded hands, compared to its average volume of 32,939,762. Standard Chartered has a 52 week low of GBX 872.80 and a 52 week high of GBX 1,875.50. The company has a market cap of £40.54 billion, a price-to-earnings ratio of 9.46, a P/E/G ratio of 0.80 and a beta of 0.85. The firm’s fifty day moving average price is GBX 1,696.61 and its 200-day moving average price is GBX 1,484.92.

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.