Standard Chartered (LON:STAN) Stock Rating Upgraded by HSBC
Standard Chartered (LON:STAN) was upgraded by equities researchers at HSBC to a “hold” rating in a research report issued on Tuesday, Stock Target Advisor reports. The brokerage presently has a GBX 480 ($6.31) price target on the financial services provider’s stock, down from their prior price target of GBX 590 ($7.76). HSBC’s price target would suggest a potential upside of 6.38% from the company’s current price.
A number of other equities analysts have also weighed in on STAN. Credit Suisse Group began coverage on shares of Standard Chartered in a research report on Tuesday, February 11th. They issued an “underperform” rating and a GBX 600 ($7.89) price target for the company. Investec upgraded shares of Standard Chartered to a “hold” rating and dropped their price target for the stock from GBX 670 ($8.81) to GBX 660 ($8.68) in a research report on Tuesday, January 28th. Goldman Sachs Group reiterated a “buy” rating and issued a GBX 870 ($11.44) price target (down from GBX 970 ($12.76)) on shares of Standard Chartered in a research report on Thursday, March 5th. Shore Capital reiterated a “buy” rating on shares of Standard Chartered in a research report on Thursday, February 27th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a GBX 265 ($3.49) price target (up from GBX 250 ($3.29)) on shares of Standard Chartered in a research report on Tuesday, January 21st. Five analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of GBX 627.64 ($8.26).
STAN stock traded down GBX 1.80 ($0.02) during midday trading on Tuesday, reaching GBX 451.20 ($5.94). 18,103,669 shares of the company’s stock traded hands, compared to its average volume of 7,690,000. Standard Chartered has a 52-week low of GBX 461.50 ($6.07) and a 52-week high of GBX 742.60 ($9.77). The stock has a market cap of $14.39 billion and a P/E ratio of 8.00. The stock’s 50-day moving average is GBX 575.50 and its 200 day moving average is GBX 659.90.
Standard Chartered PLC., together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, and the Middle East. The company operates through Corporate & Institutional Banking, Retail banking, Commercial Banking, and Private Banking segments. It offers retail products, such as deposits, savings, mortgages, credit cards, and personal loans; wealth management that include investments, portfolio management, insurance and advices, and planning services; and transaction banking services, such as cash management, payments and transactions, securities services, and trade financing products.
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