Standard Chartered (LON:STAN) Hits New 1-Year High – Time to Buy?

Standard Chartered PLC (LON:STAN) shares reached a new 52-week high during trading on Friday . The stock traded as high as GBX 1,877.50 and last traded at GBX 1,866.70, with a volume of 224900172 shares trading hands. The stock had previously closed at GBX 1,850.50.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on STAN shares. Citigroup increased their price objective on shares of Standard Chartered from GBX 1,675 to GBX 1,775 and gave the stock a “neutral” rating in a report on Friday, January 9th. Shore Capital reaffirmed a “hold” rating on shares of Standard Chartered in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Standard Chartered from GBX 1,770 to GBX 1,880 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of GBX 1,495.

Standard Chartered Stock Performance

The stock has a fifty day moving average price of GBX 1,721.04 and a 200-day moving average price of GBX 1,507.09. The firm has a market cap of £42.21 billion, a PE ratio of 9.85, a PEG ratio of 0.80 and a beta of 0.85.

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.