Standard Chartered PLC (STAN) Lowered to “Sell” at Investec

Investec downgraded shares of Standard Chartered PLC (LON:STAN) to a sell rating in a research note published on Friday, May 12th. The brokerage currently has GBX 690 ($8.73) price objective on the financial services provider’s stock, up from their prior price objective of GBX 685 ($8.67).

Several other equities analysts also recently weighed in on the stock. Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a GBX 1,000 ($12.65) price target on shares of Standard Chartered PLC in a research note on Wednesday, May 10th. HSBC Holdings plc downgraded shares of Standard Chartered PLC to a reduce rating and decreased their price target for the stock from GBX 650 ($8.22) to GBX 640 ($8.10) in a research note on Tuesday, May 2nd. Shore Capital reaffirmed a hold rating on shares of Standard Chartered PLC in a research note on Thursday, April 27th. Deutsche Bank AG reaffirmed a sell rating and set a GBX 620 ($7.84) target price on shares of Standard Chartered PLC in a research note on Tuesday, April 25th. Finally, Credit Suisse Group reaffirmed an underperform rating and set a GBX 570 ($7.21) target price on shares of Standard Chartered PLC in a research note on Friday, April 21st. Ten investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of GBX 678.89 ($8.59).

Shares of Standard Chartered PLC (LON STAN) traded down 0.17% during trading on Friday, reaching GBX 750.10. The company’s stock had a trading volume of 11,235,473 shares. Standard Chartered PLC has a one year low of GBX 471.34 and a one year high of GBX 821.60. The company’s market capitalization is GBX 24.59 billion. The firm’s 50-day moving average price is GBX 741.31 and its 200-day moving average price is GBX 728.35.

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In related news, insider Andrew Nigel (Andy) Halford sold 6,155 shares of the company’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of GBX 727 ($9.20), for a total value of £44,746.85 ($56,605.76).

Standard Chartered PLC Company Profile

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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