Standard Chartered (LON:STAN) Reaches New 52-Week High – What’s Next?

Shares of Standard Chartered PLC (LON:STAN) hit a new 52-week high during trading on Monday . The company traded as high as GBX 2,083 and last traded at GBX 2,082, with a volume of 345987063 shares. The stock had previously closed at GBX 2,044.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STAN. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 2,250 price target on shares of Standard Chartered in a report on Thursday, April 30th. Shore Capital Group upgraded shares of Standard Chartered to a “sell” rating in a report on Friday, May 1st. UBS Group reaffirmed a “buy” rating and issued a GBX 2,130 target price on shares of Standard Chartered in a research report on Monday, May 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Standard Chartered from GBX 2,200 to GBX 2,220 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Standard Chartered currently has an average rating of “Hold” and an average target price of GBX 1,938.33.

Standard Chartered Stock Performance

The stock has a market cap of £45.60 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.80 and a beta of 0.61. The firm has a 50-day moving average price of GBX 1,881.49 and a 200-day moving average price of GBX 1,790.19.

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.