Trade Report: The Standard Chartered PLC (STAN) Price Target Cut to GBX 565 by Analysts at Deutsche Bank AG

The Standard Chartered PLC (STAN) Price Target Cut to GBX 565 by Analysts at Deutsche Bank AG

Standard Chartered PLC (LON:STAN) had its price target decreased by investment analysts at Deutsche Bank AG from GBX 574 ($7.17) to GBX 565 ($7.06) in a research report issued to clients and investors on Wednesday. The brokerage presently has a “sell” rating on the stock. Deutsche Bank AG’s price target would suggest a potential downside of 10.95% from the company’s previous close.

STAN has been the topic of a number of other research reports. Citigroup Inc. reaffirmed a “buy” rating and set a GBX 750 ($9.37) target price on shares of Standard Chartered PLC in a research note on Tuesday, August 9th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a GBX 740 ($9.25) target price on shares of Standard Chartered PLC in a research note on Friday, August 5th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 750 ($9.37) target price on shares of Standard Chartered PLC in a research note on Wednesday, November 2nd. Barclays PLC reaffirmed an “equal weight” rating and set a GBX 500 ($6.25) target price on shares of Standard Chartered PLC in a research note on Friday, August 5th. Finally, Shore Capital reaffirmed a “hold” rating on shares of Standard Chartered PLC in a research note on Wednesday, August 3rd. Ten analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Standard Chartered PLC currently has a consensus rating of “Hold” and a consensus target price of GBX 587.28 ($7.34).

Standard Chartered PLC (LON:STAN) traded down 0.36% on Wednesday, hitting GBX 631.83. The stock had a trading volume of 3,257,208 shares. Standard Chartered PLC has a 1-year low of GBX 373.40 and a 1-year high of GBX 719.30. The company’s 50 day moving average is GBX 660.92 and its 200-day moving average is GBX 607.48. The firm’s market capitalization is GBX 20.73 billion.

In other news, insider José Viñals acquired 2,000 shares of Standard Chartered PLC stock in a transaction on Wednesday, November 16th. The stock was acquired at an average cost of GBX 639 ($7.98) per share, with a total value of £12,780 ($15,967.02).

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