Berenberg Bank Downgrades Standard Chartered PLC (STAN) to Hold

Standard Chartered PLC (LON:STAN) was downgraded by investment analysts at Berenberg Bank to a “hold” rating in a research report issued on Thursday. They presently have a GBX 725 ($9.13) target price on the financial services provider’s stock, down from their previous target price of GBX 750 ($9.44). Berenberg Bank’s target price suggests a potential upside of 5.69% from the stock’s current price.

STAN has been the topic of a number of other reports. Bank of America Corp upgraded Standard Chartered PLC to a “buy” rating and set a GBX 900 ($11.33) price objective on the stock in a research report on Tuesday, January 17th. JPMorgan Chase & Co. cut Standard Chartered PLC to a “neutral” rating in a research report on Monday, February 20th. Goldman Sachs Group Inc restated a “buy” rating and set a GBX 840 ($10.57) price objective on shares of Standard Chartered PLC in a research report on Friday, November 25th. Deutsche Bank AG boosted their price objective on Standard Chartered PLC from GBX 600 ($7.55) to GBX 620 ($7.80) and gave the company a “sell” rating in a research report on Monday, February 27th. Finally, Citigroup Inc lowered their price target on Standard Chartered PLC from GBX 900 ($11.33) to GBX 890 ($11.20) and set a “buy” rating on the stock in a research report on Wednesday, March 8th. Eight equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of GBX 677.22 ($8.52).

Analyst Recommendations for Standard Chartered PLC (LON:STAN)

Shares of Standard Chartered PLC (LON:STAN) traded down 1.07% during trading on Thursday, reaching GBX 686.00. 7,545,407 shares of the company’s stock were exchanged. The company has a 50 day moving average of GBX 734.95 and a 200 day moving average of GBX 706.13. The stock’s market cap is GBX 22.49 billion. Standard Chartered PLC has a 12-month low of GBX 471.34 and a 12-month high of GBX 821.60.

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In other news, insider Andrew Nigel (Andy) Halford sold 6,155 shares of the stock in a transaction on Monday, March 20th. The stock was sold at an average price of GBX 727 ($9.15), for a total transaction of £44,746.85 ($56,320.77).

About Standard Chartered PLC

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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