Standard Chartered (LON:STAN)‘s stock had its “conviction-buy” rating reiterated by stock analysts at Goldman Sachs Group in a report issued on Thursday, ThisIsMoney.Co.Uk reports. They currently have a GBX 990 ($12.94) target price on the financial services provider’s stock, up from their prior target price of GBX 950 ($12.41). Goldman Sachs Group’s price objective indicates a potential upside of 39.36% from the stock’s current price.
Other equities analysts also recently issued reports about the company. Numis Securities upgraded Standard Chartered to an “add” rating and boosted their price objective for the company from GBX 600 ($7.84) to GBX 720 ($9.41) in a research report on Wednesday, March 13th. Shore Capital restated a “buy” rating on shares of Standard Chartered in a research report on Thursday, February 28th. Berenberg Bank decreased their target price on Standard Chartered from GBX 920 ($12.02) to GBX 800 ($10.45) and set a “buy” rating on the stock in a research report on Monday, February 4th. Investec upgraded Standard Chartered to a “buy” rating in a research report on Monday, March 25th. Finally, Jefferies Financial Group upgraded Standard Chartered to a “buy” rating and boosted their target price for the stock from GBX 348 ($4.55) to GBX 489 ($6.39) in a research report on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Standard Chartered has an average rating of “Hold” and a consensus target price of GBX 708.50 ($9.26).
Shares of Standard Chartered stock opened at GBX 710.40 ($9.28) on Thursday. Standard Chartered has a 52 week low of GBX 514.20 ($6.72) and a 52 week high of GBX 787.30 ($10.29). The stock has a market capitalization of $23.50 billion and a PE ratio of 38.40.
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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