Standard Chartered (LON:STAN) Stock Passes Above 200 Day Moving Average – What’s Next?

Standard Chartered PLC (LON:STAN) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 764.31 ($9.84) and traded as high as GBX 944.40 ($12.15). Standard Chartered shares last traded at GBX 941 ($12.11), with a volume of 5,605,039 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently commented on STAN shares. JPMorgan Chase & Co. lifted their price objective on Standard Chartered from GBX 1,000 ($12.87) to GBX 1,020 ($13.13) and gave the stock an “overweight” rating in a report on Thursday, August 1st. Citigroup reaffirmed a “neutral” rating on shares of Standard Chartered in a research note on Monday, September 2nd. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 1,100 ($14.16) target price on shares of Standard Chartered in a report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 979.67 ($12.61).

Standard Chartered Trading Up 1.8 %

The stock has a 50-day simple moving average of GBX 819.58 and a two-hundred day simple moving average of GBX 764.31. The firm has a market capitalization of £23.05 billion, a P/E ratio of 1,081.61, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85.

About Standard Chartered

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.