Deutsche Bank AG Upgrades Standard Chartered PLC (STAN) to “Hold”

Standard Chartered PLC (LON:STAN) was upgraded by analysts at Deutsche Bank AG to a “hold” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a GBX 653 ($8.62) price target on the financial services provider’s stock, down from their previous price target of GBX 670 ($8.84). Deutsche Bank AG’s price target suggests a potential downside of 9.74% from the company’s current price.

Several other equities analysts have also commented on the company. Goldman Sachs Group, Inc. (The) increased their target price on Standard Chartered PLC from GBX 960 ($12.67) to GBX 970 ($12.80) and gave the company a “buy” rating in a report on Tuesday, July 18th. BNP Paribas reissued a “neutral” rating and issued a GBX 750 ($9.90) target price on shares of Standard Chartered PLC in a report on Wednesday, July 19th. Citigroup Inc. reissued a “buy” rating on shares of Standard Chartered PLC in a report on Friday, July 21st. HSBC Holdings plc reissued a “reduce” rating and issued a GBX 620 ($8.18) target price on shares of Standard Chartered PLC in a report on Monday, September 18th. Finally, Barclays PLC reaffirmed an “underweight” rating on shares of Standard Chartered PLC in a report on Thursday, August 3rd. Seven 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. The company currently has an average rating of “Hold” and an average target price of GBX 697.56 ($9.21).

Standard Chartered PLC (LON STAN) traded down GBX 2.37 ($0.03) during trading hours on Thursday, reaching GBX 723.43 ($9.55). The company had a trading volume of 6,250,000 shares, compared to its average volume of 6,870,000. Standard Chartered PLC has a 52-week low of GBX 609.60 ($8.04) and a 52-week high of GBX 860 ($11.35).

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In other news, insider Bill Winters sold 149,761 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of GBX 725 ($9.57), for a total transaction of £1,085,767.25 ($1,432,788.66).

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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