Standard Chartered (LON:STAN) Reaches New 1-Year High – Should You Buy?

Standard Chartered PLC (LON:STAN)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 970.40 ($12.20) and last traded at GBX 970.20 ($12.20), with a volume of 21227018 shares. The stock had previously closed at GBX 959.80 ($12.07).

Analysts Set New Price Targets

STAN has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on Standard Chartered from GBX 1,000 ($12.57) to GBX 1,020 ($12.82) and gave the company an “overweight” rating in a research note on Thursday, August 1st. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research report on Monday, September 2nd. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,100 ($13.83) target price on shares of Standard Chartered in a research report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Standard Chartered has an average rating of “Moderate Buy” and an average target price of GBX 1,002 ($12.60).

Standard Chartered Stock Performance

The company’s 50-day moving average is GBX 856.09 and its 200-day moving average is GBX 783.23. The firm has a market cap of £23.85 billion, a price-to-earnings ratio of 1,103.22, a P/E/G 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.