Citigroup Forecasts Strong Price Appreciation for Standard Chartered (LON:STAN) Stock

Standard Chartered (LON:STAN) had its price target lifted by equities researchers at Citigroup from GBX 1,170 ($15.08) to GBX 1,250 ($16.11) in a research note issued to investors on Thursday,Digital Look reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective would suggest a potential upside of 0.70% from the company’s previous close.

Separately, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 970 ($12.50) price target on shares of Standard Chartered in a research note on Monday, February 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Standard Chartered currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,073.33 ($13.84).

Standard Chartered Trading Down 0.1 %

Shares of LON STAN traded down GBX 1.23 ($0.02) during mid-day trading on Thursday, reaching GBX 1,241.27 ($16.00). The company had a trading volume of 7,719,043 shares, compared to its average volume of 18,665,992. The stock has a market cap of £37.48 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. Standard Chartered has a 52 week low of GBX 635.20 ($8.19) and a 52 week high of GBX 1,281 ($16.51). The business’s 50-day moving average is GBX 1,091.22 and its 200-day moving average is GBX 934.72.

Standard Chartered Company Profile

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.