Standard Chartered’s (STAN) “Neutral” Rating Reaffirmed at UBS Group

UBS Group reaffirmed their neutral rating on shares of Standard Chartered (LON:STAN) in a research report released on Wednesday, October 17th, investing.thisismoney.co.uk reports. The firm currently has a GBX 600 ($7.84) target price on the financial services provider’s stock, down from their prior target price of GBX 735 ($9.60).

STAN has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their price target on Standard Chartered from GBX 930 ($12.15) to GBX 900 ($11.76) and set an overweight rating for the company in a research note on Tuesday, October 16th. Goldman Sachs Group decreased their price target on Standard Chartered from GBX 970 ($12.67) to GBX 945 ($12.35) and set a conviction-buy rating for the company in a research note on Wednesday, September 12th. Citigroup reiterated a buy rating on shares of Standard Chartered in a research note on Wednesday, September 5th. Societe Generale reissued a hold rating on shares of Standard Chartered in a report on Monday, September 10th. Finally, Credit Suisse Group reissued an underperform rating on shares of Standard Chartered in a report on Thursday, August 23rd. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of GBX 731.08 ($9.55).

Shares of LON STAN traded down GBX 9.70 ($0.13) during mid-day trading on Wednesday, reaching GBX 569.30 ($7.44). 6,191,118 shares of the company were exchanged, compared to its average volume of 7,690,000. Standard Chartered has a 1 year low of GBX 678.80 ($8.87) and a 1 year high of GBX 864.20 ($11.29).

In other news, insider Bill Winters sold 152,207 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of GBX 641 ($8.38), for a total value of £975,646.87 ($1,274,855.44). Also, insider José Viñals acquired 10,000 shares of Standard Chartered stock in a transaction that occurred on Friday, November 2nd. The shares were bought at an average price of GBX 582 ($7.60) per share, for a total transaction of £58,200 ($76,048.61).

About Standard Chartered

Standard Chartered PLC provides various banking products and services in the Greater China and North Asia, ASEAN and South Asia, Africa and the Middle East, and Europe and America. The company operates in four segments: Corporate & Institutional Banking, Private Banking, Commercial Banking, and Retail Banking.

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Analyst Recommendations for Standard Chartered (LON:STAN)

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