Standard Chartered (STAN) Given Buy Rating at Citigroup

Citigroup reaffirmed their buy rating on shares of Standard Chartered (LON:STAN) in a report issued on Wednesday.

A number of other research firms have also issued reports on STAN. Credit Suisse Group reduced their price target on shares of Standard Chartered from GBX 620 ($8.34) to GBX 610 ($8.21) and set an underperform rating for the company in a research report on Friday, November 3rd. Barclays reaffirmed an underweight rating and set a GBX 620 ($8.34) target price on shares of Standard Chartered in a report on Tuesday, November 14th. Deutsche Bank reaffirmed a sell rating and set a GBX 668 ($8.99) target price on shares of Standard Chartered in a report on Tuesday, September 19th. Berenberg Bank cut their target price on shares of Standard Chartered from GBX 725 ($9.76) to GBX 700 ($9.42) and set a hold rating for the company in a report on Wednesday, September 20th. Finally, Shore Capital reaffirmed a buy rating on shares of Standard Chartered in a report on Tuesday, November 28th. Nine research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of GBX 698.39 ($9.40).

Standard Chartered (LON STAN) traded up GBX 1.39 ($0.02) on Wednesday, reaching GBX 751.90 ($10.12). 5,918,719 shares of the company’s stock were exchanged, compared to its average volume of 7,390,000. Standard Chartered has a 12 month low of GBX 633.86 ($8.53) and a 12 month high of GBX 860 ($11.57).

In related news, insider Bill Winters sold 149,761 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of GBX 725 ($9.76), for a total value of £1,085,767.25 ($1,461,328.73).

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Standard Chartered 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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