Standard Chartered PLC (LON:STAN) had its price objective reduced by equities researchers at Credit Suisse Group from GBX 620 ($8.15) to GBX 610 ($8.02) in a report released on Friday, November 3rd, MarketBeat Ratings reports. The brokerage currently has an “underperform” rating on the financial services provider’s stock. Credit Suisse Group’s target price indicates a potential downside of 14.98% from the company’s previous close.
Several other analysts also recently weighed in on the stock. Goldman Sachs Group, Inc. (The) boosted their price objective on shares of Standard Chartered PLC from GBX 960 ($12.63) to GBX 970 ($12.76) and gave the stock a “buy” rating in a research report on Tuesday, July 18th. BNP Paribas restated a “neutral” rating and set a GBX 750 ($9.86) price objective on shares of Standard Chartered PLC in a research report on Wednesday, July 19th. Citigroup Inc. restated a “buy” rating on shares of Standard Chartered PLC in a research report on Friday, July 21st. Deutsche Bank AG restated a “sell” rating and set a GBX 668 ($8.79) price objective on shares of Standard Chartered PLC in a research report on Tuesday, September 26th. Finally, restated a “reduce” rating and set a GBX 620 ($8.15) price objective on shares of Standard Chartered PLC in a research report on Monday, September 18th. Ten investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Standard Chartered PLC currently has a consensus rating of “Hold” and an average target price of GBX 686.89 ($9.03).
Shares of Standard Chartered PLC (STAN) opened at GBX 717.50 ($9.44) on Friday. Standard Chartered PLC has a 1-year low of GBX 609.60 ($8.02) and a 1-year high of GBX 860 ($11.31).
In related news, insider Bill Winters sold 149,761 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of GBX 725 ($9.54), for a total value of £1,085,767.25 ($1,428,077.40).
About Standard Chartered PLC
Standard Chartered PLC is an international banking company. The Banks’s segments include Corporate & Institutional Banking, Retail Banking, Commercial Banking and Private Banking. Its Corporate & Institutional Banking segment allows companies and financial institutions to operate and trade globally, and its Private Banking segment supports high net worth individuals with their banking needs across borders and offers access to global investment opportunities.
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