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

Standard Chartered PLC (LON:STAN) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 2,160 and last traded at GBX 2,149.50, with a volume of 51789445 shares trading hands. The stock had previously closed at GBX 2,135.

Wall Street Analysts Forecast Growth

Several research analysts have commented on STAN shares. Shore Capital Group raised shares of Standard Chartered to a “sell” rating in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their target price on Standard Chartered from GBX 2,200 to GBX 2,220 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. UBS Group reiterated 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, Jefferies Financial Group reissued a “buy” rating and set a GBX 2,250 price target on shares of Standard Chartered in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of GBX 1,938.33.

Standard Chartered Price Performance

The firm’s 50-day moving average is GBX 1,985.56 and its two-hundred day moving average is GBX 1,832.59. The company has a market cap of £46.74 billion, a P/E ratio of 10.41, a PEG ratio of 0.80 and a beta of 0.60.

Standard Chartered Company Profile

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.