Standard Chartered PLC (STAN) Upgraded at Deutsche Bank AG
Standard Chartered PLC (LON:STAN) was upgraded by equities researchers at Deutsche Bank AG to a “hold” rating in a report released on Thursday. The brokerage presently has a GBX 653 ($8.62) price objective on the financial services provider’s stock, down from their prior price objective of GBX 670 ($8.84). Deutsche Bank AG’s target price suggests a potential downside of 12.98% from the stock’s current price.
Other equities analysts have also issued research reports about the company. Credit Suisse Group set a GBX 615 ($8.12) price objective on Standard Chartered PLC and gave the stock a “sell” rating in a research note on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) set a GBX 970 ($12.80) price objective on Standard Chartered PLC and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Barclays PLC reissued an “underweight” rating on shares of Standard Chartered PLC in a research note on Thursday, August 3rd. Berenberg Bank lowered their price objective on Standard Chartered PLC from GBX 725 ($9.57) to GBX 700 ($9.24) and set a “hold” rating on the stock in a research note on Wednesday, September 20th. Finally, UBS AG set a GBX 750 ($9.90) price objective on Standard Chartered PLC and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. Seven research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Standard Chartered PLC currently has a consensus rating of “Hold” and a consensus price target of GBX 695.35 ($9.18).
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In related news, insider Bill Winters sold 149,761 shares of the business’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of GBX 725 ($9.57), for a total value of £1,085,767.25 ($1,432,788.66).
About Standard Chartered PLC
Standard Chartered PLC is an international banking company. The Banks’s segments include Corporate & Institutional Banking, Retail Banking, Commercial Banking and Private Banking. Its Corporate & Institutional Banking segment allows companies and financial institutions to operate and trade globally, and its Private Banking segment supports high net worth individuals with their banking needs across borders and offers access to global investment opportunities.
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