Standard Chartered (LON:STAN) Sets New 52-Week High – Time to Buy?

Standard Chartered PLC (LON:STAN) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 970.40 ($12.32) and last traded at GBX 970.20 ($12.32), with a volume of 21227018 shares. The stock had previously closed at GBX 959.80 ($12.18).

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a report on Monday, September 2nd. JPMorgan Chase & Co. upped their target price on shares of Standard Chartered from GBX 1,000 ($12.69) to GBX 1,020 ($12.95) and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 1,100 ($13.96) price target on shares of Standard Chartered in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of GBX 1,002 ($12.72).

Standard Chartered Stock Down 0.6 %

The company’s fifty day moving average price is GBX 864.84 and its two-hundred day moving average price is GBX 786.34. The firm has a market cap of £23.86 billion, a PE ratio of 1,125.75, a P/E/G ratio of 0.80 and a beta of 0.85.

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.