Standard Chartered (LON:STAN) Hits New 52-Week High – What’s Next?

Standard Chartered PLC (LON:STAN) shares hit a new 52-week high during trading on Monday . The stock traded as high as GBX 954.60 ($12.03) and last traded at GBX 951.60 ($11.99), with a volume of 124532891 shares traded. The stock had previously closed at GBX 943.40 ($11.89).

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STAN. JPMorgan Chase & Co. lifted their price target on shares of Standard Chartered from GBX 1,000 ($12.60) to GBX 1,020 ($12.85) and gave the company an “overweight” rating in a research note on Thursday, August 1st. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,100 ($13.86) target price on shares of Standard Chartered in a research report on Wednesday, August 21st. Finally, Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research report on Monday, September 2nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Standard Chartered has a consensus rating of “Moderate Buy” and a consensus price target of GBX 979.67 ($12.35).

Standard Chartered Stock Up 1.2 %

The business has a fifty day moving average of GBX 833 and a 200 day moving average of GBX 771.24. The firm has a market cap of £23.40 billion, a P/E ratio of 1,084.37, a PEG ratio of 0.80 and a beta of 0.85.

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.