Barclays Cuts Standard Chartered (STAN) Price Target to GBX 600

Standard Chartered (LON:STAN) had its target price trimmed by Barclays from GBX 685 ($8.95) to GBX 600 ($7.84) in a report issued on Thursday morning. The brokerage currently has an underweight rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on STAN. Goldman Sachs Group set a GBX 980 ($12.81) price target on shares of Standard Chartered and gave the stock a buy rating in a research report on Tuesday, July 31st. Shore Capital reaffirmed a buy rating on shares of Standard Chartered in a research report on Wednesday. UBS Group reiterated a neutral rating and set a GBX 600 ($7.84) price objective on shares of Standard Chartered in a research note on Friday, October 26th. Deutsche Bank reduced their price objective on shares of Standard Chartered from GBX 650 ($8.49) to GBX 620 ($8.10) and set a hold rating for the company in a research note on Thursday. Finally, Independent Research upgraded shares of Standard Chartered to a hold rating and set a GBX 720 ($9.41) price objective for the company in a research note on Thursday, August 2nd. Four analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Standard Chartered currently has an average rating of Hold and an average price target of GBX 731.08 ($9.55).

Shares of STAN opened at GBX 579 ($7.57) on Thursday. Standard Chartered has a fifty-two week low of GBX 678.80 ($8.87) and a fifty-two week high of GBX 864.20 ($11.29).

In related news, insider Bill Winters sold 152,207 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of GBX 641 ($8.38), for a total transaction of £975,646.87 ($1,274,855.44).

About Standard Chartered

Standard Chartered PLC provides various banking products and services in the Greater China and North Asia, ASEAN and South Asia, Africa and the Middle East, and Europe and America. The company operates in four segments: Corporate & Institutional Banking, Private Banking, Commercial Banking, and Retail Banking.

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Analyst Recommendations for Standard Chartered (LON:STAN)

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