Standard Chartered (LON:STAN) Upgraded by The Goldman Sachs Group to “Buy”

Standard Chartered (LON:STAN) was upgraded by equities research analysts at The Goldman Sachs Group to a “buy” rating in a research report issued on Monday, Digital Look reports. The brokerage presently has a GBX 868 ($10.66) price objective on the financial services provider’s stock, down from their previous price objective of GBX 879 ($10.79). The Goldman Sachs Group’s price objective points to a potential upside of 30.62% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a report on Monday, October 16th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,100 ($13.51) price target on shares of Standard Chartered in a report on Monday, November 6th. Shore Capital restated a “buy” rating on shares of Standard Chartered in a research report on Friday, July 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Standard Chartered from GBX 980 ($12.03) to GBX 990 ($12.16) and gave the company an “overweight” rating in a research report on Thursday, September 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of GBX 956.33 ($11.74).

Standard Chartered Stock Performance

Standard Chartered stock traded up GBX 4.52 ($0.06) during mid-day trading on Monday, reaching GBX 664.52 ($8.16). 5,703,493 shares of the company were exchanged, compared to its average volume of 6,481,012. The firm has a market cap of £17.74 billion, a PE ratio of 1,253.81, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85. The firm’s 50-day simple moving average is GBX 703.20 and its two-hundred day simple moving average is GBX 691.44. Standard Chartered has a twelve month low of GBX 577.40 ($7.09) and a twelve month high of GBX 799.40 ($9.82).

About Standard Chartered

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, Europe, the Americas, and the Middle East. The company operates through two segments: Corporate, Commercial and Institutional Banking; and Consumer, Private and Business Banking.