Trade Report: Today, Standard Chartered PLC (STAN) Receives New Coverage from Analysts at Credit Suisse Group AG

Today, Standard Chartered PLC (STAN) Receives New Coverage from Analysts at Credit Suisse Group AG

Equities research analysts at Credit Suisse Group AG assumed coverage on shares of Standard Chartered PLC (LON:STAN) in a report released on Tuesday. The firm set an “underperform” rating and a GBX 515 ($6.39) price target on the stock. Credit Suisse Group AG’s price objective would indicate a potential downside of 17.49% from the company’s current price.

Several other brokerages have also recently issued reports on STAN. Royal Bank Of Canada cut Standard Chartered PLC to an “underperform” rating and upped their target price for the company from GBX 460 ($5.71) to GBX 570 ($7.07) in a report on Monday, October 24th. Deutsche Bank AG upped their target price on Standard Chartered PLC from GBX 479 ($5.94) to GBX 574 ($7.12) and gave the company a “sell” rating in a report on Tuesday, October 25th. JPMorgan Chase & Co. upped their target price on Standard Chartered PLC from GBX 800 ($9.92) to GBX 870 ($10.79) and gave the company an “overweight” rating in a report on Monday, October 24th. Barclays PLC restated an “underweight” rating and issued a GBX 520 ($6.45) target price on shares of Standard Chartered PLC in a report on Wednesday, November 2nd. Finally, Societe Generale restated a “hold” rating and issued a GBX 660 ($8.19) target price on shares of Standard Chartered PLC in a report on Wednesday, November 2nd. Eleven research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of GBX 584.39 ($7.25).

Shares of Standard Chartered PLC (LON:STAN) opened at 630.00 on Tuesday. The company’s 50-day moving average price is GBX 659.87 and its 200-day moving average price is GBX 610.01. The company’s market cap is GBX 20.67 billion. Standard Chartered PLC has a 12 month low of GBX 373.40 and a 12 month high of GBX 719.30.

In related news, insider José Viñals bought 2,000 shares of the stock in a transaction on Wednesday, November 16th. The shares were bought at an average cost of GBX 639 ($7.93) per share, for a total transaction of £12,780 ($15,854.11).

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