Standard Chartered (LON:STAN) Hits New 12-Month High – Still a Buy?

Standard Chartered PLC (LON:STAN) hit a new 52-week high on Monday . The stock traded as high as GBX 1,006.50 ($12.83) and last traded at GBX 1,003 ($12.78), with a volume of 27241021 shares trading hands. The stock had previously closed at GBX 973.60 ($12.41).

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,100 ($14.02) target price on shares of Standard Chartered in a research note on Wednesday, August 21st. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a report on Monday, September 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,002 ($12.77).

Standard Chartered Trading Up 2.8 %

The stock has a market capitalization of £24.51 billion, a PE ratio of 1,119.08, a PEG ratio of 0.80 and a beta of 0.85. The firm’s 50-day moving average price is GBX 885.04 and its 200-day moving average price is GBX 793.88.

Standard Chartered Company Profile

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas. The company operates in three segments: Corporate, Commercial & Institutional Banking; Consumer, Private & Business Banking; and Ventures.