Goldman Sachs Reaffirms “Conviction-Buy” Rating for Standard Chartered (STAN)

Goldman Sachs reissued their conviction-buy rating on shares of Standard Chartered (LON:STAN) in a research note published on Monday, March 26th. They currently have a GBX 980 ($14.03) price objective on the financial services provider’s stock.

A number of other research analysts have also weighed in on the stock. Credit Suisse Group reissued an underperform rating and set a GBX 610 ($8.73) target price on shares of Standard Chartered in a research report on Monday, March 19th. Barclays started coverage on shares of Standard Chartered in a report on Thursday, March 15th. They set an underweight rating and a GBX 685 ($9.81) price objective on the stock. Investec boosted their price objective on shares of Standard Chartered from GBX 715 ($10.24) to GBX 730 ($10.45) and gave the stock a sell rating in a report on Friday, March 2nd. JPMorgan Chase restated an overweight rating and set a GBX 900 ($12.89) price objective on shares of Standard Chartered in a report on Wednesday, February 28th. Finally, Morgan Stanley boosted their price objective on shares of Standard Chartered from GBX 660 ($9.45) to GBX 700 ($10.02) and gave the stock an underweight rating in a report on Wednesday, February 28th. Eight analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of GBX 741.53 ($10.62).

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Standard Chartered stock traded up GBX 0.70 ($0.01) on Monday, reaching GBX 728 ($10.42). 5,367,550 shares of the stock were exchanged, compared to its average volume of 7,690,000. Standard Chartered has a twelve month low of GBX 678.80 ($9.72) and a twelve month high of GBX 864.20 ($12.37).

The firm also recently announced a dividend, which will be paid on Thursday, May 17th. Investors of record on Thursday, March 8th will be paid a $0.11 dividend. The ex-dividend date is Thursday, March 8th. This represents a yield of 1.01%.

In related news, insider Andrew Nigel (Andy) Halford sold 6,215 shares of the company’s stock in a transaction dated Monday, March 19th. The shares were sold at an average price of GBX 761 ($10.90), for a total value of £47,296.15 ($67,720.72).

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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.

Analyst Recommendations for Standard Chartered (LON:STAN)

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