Goldman Sachs Group Trims Standard Chartered (LON:STAN) Target Price to GBX 945

Standard Chartered (LON:STAN) had its target price reduced by Goldman Sachs Group from GBX 970 ($12.64) to GBX 945 ($12.31) in a report issued on Wednesday, September 12th. The firm presently has a “conviction-buy” rating on the financial services provider’s stock. Goldman Sachs Group’s price target would suggest a potential upside of 56.02% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Deutsche Bank lowered their target price on Standard Chartered from GBX 720 ($9.38) to GBX 675 ($8.79) and set a “hold” rating for the company in a research note on Wednesday, August 1st. HSBC raised Standard Chartered to a “hold” rating and lowered their target price for the stock from GBX 680 ($8.86) to GBX 670 ($8.73) in a research note on Wednesday, August 1st. UBS Group set a GBX 800 ($10.42) price target on Standard Chartered and gave the stock a “neutral” rating in a report on Tuesday, July 3rd. Citigroup restated a “buy” rating on shares of Standard Chartered in a report on Wednesday, September 5th. Finally, Credit Suisse Group restated an “underperform” rating on shares of Standard Chartered in a report on Thursday, August 23rd. Seven analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Standard Chartered presently has a consensus rating of “Hold” and an average price target of GBX 737.13 ($9.60).

LON STAN traded down GBX 12.40 ($0.16) during trading on Wednesday, hitting GBX 605.70 ($7.89). 6,410,057 shares of the company’s stock were exchanged, compared to its average volume of 7,690,000. Standard Chartered has a fifty-two week low of GBX 678.80 ($8.84) and a fifty-two week high of GBX 864.20 ($11.26).

In other news, insider Bill Winters sold 152,207 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of GBX 641 ($8.35), for a total transaction of £975,646.87 ($1,270,869.96).

Standard Chartered Company Profile

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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