Standard Chartered PLC (LON:STAN) Stock Has Average Target Price of GBX 2,334 According to Brokerages

Standard Chartered PLC (LON:STAN) has earned an average rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is GBX 2,334.

A number of research firms have recently weighed in on STAN. JPMorgan Chase & Co. upped their target price on shares of Standard Chartered from GBX 2,330 to GBX 2,470 and gave the stock an “overweight” rating in a research report on Tuesday, September 8th. Citigroup increased their price target on shares of Standard Chartered from GBX 2,230 to GBX 2,370 and gave the stock a “neutral” rating in a research note on Wednesday, September 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 2,450 price target on shares of Standard Chartered in a research report on Thursday, July 30th. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 2,250 price objective on shares of Standard Chartered in a research note on Wednesday, July 29th.

Insider Buying and Selling at Standard Chartered

In other Standard Chartered news, Chief Group Executive Bill Winters bought 300,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was acquired at an average price of GBX 2,221 per share, with a total value of £6,663,000. Corporate insiders own 0.38% of the company’s stock.

Key Headlines Impacting Standard Chartered

Here are the key news stories impacting Standard Chartered this week:

• Positive Sentiment: UAE crypto trading launch expands wealth-management offering: Standard Chartered has begun offering direct Bitcoin and Ether trading to affluent clients in the United Arab Emirates. The move strengthens its digital-asset capabilities, could generate trading and custody fees, and positions the bank as an early regulated international-bank entrant in the UAE crypto market. However, revenue potential is likely modest initially, while regulatory, compliance and cryptocurrency-volatility risks remain. Standard Chartered Opens Bitcoin and Ethereum Trading to Wealthy UAE Clients
• Positive Sentiment: Technology and payments investment supports long-term growth: Coverage describes Standard Chartered’s continued advancement of payment infrastructure and banking technology. These investments could improve efficiency, transaction volumes and competitiveness across its international network, although the near-term effect on profits is unclear. Standard Chartered Advances Technology, Payment Infrastructure for the Future

Standard Chartered Trading Up 0.7%

Shares of Standard Chartered stock opened at GBX 2,123 on Thursday. The firm has a market capitalization of £46.20 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.80 and a beta of 0.59. The business has a fifty day simple moving average of GBX 2,224.52 and a two-hundred day simple moving average of GBX 2,038.20. Standard Chartered has a 12 month low of GBX 1,351.50 and a 12 month high of GBX 2,364.

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.