Standard Chartered (LON:STAN) Earns “Conviction-Buy” Rating from Goldman Sachs Group

Goldman Sachs Group reiterated their conviction-buy rating on shares of Standard Chartered (LON:STAN) in a research note issued to investors on Tuesday morning, ThisIsMoney.Co.Uk reports. They currently have a GBX 970 ($12.67) target price on the financial services provider’s stock, down from their prior target price of GBX 980 ($12.81).

Several other equities analysts have also weighed in on STAN. Royal Bank of Canada lowered shares of Standard Chartered to an underperform rating and lifted their target price for the company from GBX 460 ($6.01) to GBX 580 ($7.58) in a report on Tuesday, April 30th. Deutsche Bank reaffirmed a hold rating on shares of Standard Chartered in a report on Friday, August 2nd. Bank of America reaffirmed a buy rating on shares of Standard Chartered in a report on Thursday, April 18th. Barclays reaffirmed an underweight rating on shares of Standard Chartered in a report on Wednesday, July 17th. Finally, Morgan Stanley reaffirmed an underweight rating on shares of Standard Chartered in a report on Friday, July 26th. Six investment analysts have rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Standard Chartered has an average rating of Hold and an average target price of GBX 708.77 ($9.26).

LON:STAN opened at GBX 610.60 ($7.98) on Tuesday. The firm has a market cap of $19.40 billion and a price-to-earnings ratio of 38.40. The company has a 50 day moving average price of GBX 690.32 and a 200-day moving average price of GBX 661.60. Standard Chartered has a 1-year low of GBX 514.20 ($6.72) and a 1-year high of GBX 742.60 ($9.70).

The business also recently declared a dividend, which will be paid on Monday, October 21st. Investors of record on Thursday, August 8th will be issued a $0.07 dividend. This represents a yield of 0.82%. The ex-dividend date is Thursday, August 8th. Standard Chartered’s payout ratio is presently 1.51%.

In related news, insider Andrew Nigel (Andy) Halford purchased 23,701 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was bought at an average price of GBX 703 ($9.19) per share, with a total value of £166,618.03 ($217,715.97).

Standard Chartered Company Profile

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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Analyst Recommendations for Standard Chartered (LON:STAN)

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