Standard Chartered (LON:STAN) Sets New 12-Month High – Here’s What Happened

Standard Chartered PLC (LON:STAN) hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 970.40 ($12.20) and last traded at GBX 970.20 ($12.20), with a volume of 21227018 shares trading hands. The stock had previously closed at GBX 959.80 ($12.07).

Wall Street Analysts Forecast Growth

STAN has been the topic of several recent analyst reports. Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,100 ($13.83) price target on shares of Standard Chartered in a research report on Wednesday, August 21st. JPMorgan Chase & Co. raised their target price on shares of Standard Chartered from GBX 1,000 ($12.57) to GBX 1,020 ($12.82) and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research report on Monday, September 2nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,002 ($12.60).

Standard Chartered Price Performance

The stock has a market capitalization of £23.85 billion, a price-to-earnings ratio of 1,103.22, a P/E/G ratio of 0.80 and a beta of 0.85. The company’s 50-day simple moving average is GBX 856.09 and its 200-day simple moving average is GBX 783.23.

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.