Standard Chartered (LON:STAN) had its price target decreased by Barclays from GBX 685 ($8.95) to GBX 600 ($7.84) in a research note released on Thursday. Barclays currently has an underweight rating on the financial services provider’s stock.
A number of other research analysts have also weighed in on the stock. Goldman Sachs Group dropped their price target on shares of Standard Chartered from GBX 970 ($12.67) to GBX 945 ($12.35) and set a conviction-buy rating on the stock in a research report on Wednesday, September 12th. JPMorgan Chase & Co. lowered their price objective on shares of Standard Chartered from GBX 930 ($12.15) to GBX 900 ($11.76) and set an overweight rating on the stock in a research report on Tuesday, October 16th. Citigroup reaffirmed a buy rating on shares of Standard Chartered in a research report on Wednesday, September 5th. Societe Generale reaffirmed a hold rating on shares of Standard Chartered in a research report on Monday, September 10th. Finally, Credit Suisse Group reaffirmed an underperform rating on shares of Standard Chartered in a research report on Thursday, August 23rd. Seven analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Standard Chartered has an average rating of Hold and an average target price of GBX 712.13 ($9.31).
Shares of STAN traded up GBX 22 ($0.29) during trading hours on Thursday, reaching GBX 579 ($7.57). 12,621,088 shares of the stock traded hands, compared to its average volume of 7,690,000. Standard Chartered has a 52 week low of GBX 678.80 ($8.87) and a 52 week high of GBX 864.20 ($11.29).
In other Standard Chartered news, insider Bill Winters sold 152,207 shares of Standard Chartered stock in a transaction dated Monday, September 24th. The shares were sold at an average price of GBX 641 ($8.38), for a total value of £975,646.87 ($1,274,855.44).
About Standard Chartered
Standard Chartered PLC provides various banking products and services in the Greater China and North Asia, ASEAN and South Asia, Africa and the Middle East, and Europe and America. The company operates in four segments: Corporate & Institutional Banking, Private Banking, Commercial Banking, and Retail Banking.
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