Standard Chartered (LON:STAN) Share Price Breaks Above 50-Day Moving Average – Should You Sell?

Standard Chartered PLC (LON:STAN)’s stock price passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of GBX 2,179.59 and traded as high as GBX 2,247. Standard Chartered shares last traded at GBX 2,219, with a volume of 5,658,046 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STAN. Deutsche Bank reiterated a “buy” rating and set a GBX 2,450 target price on shares of Standard Chartered in a research report on Thursday, October 29th. JPMorgan Chase & Co. raised their price target on shares of Standard Chartered from GBX 2,330 to GBX 2,470 and gave the stock an “overweight” rating in a report on Tuesday, September 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 3,040 price target on shares of Standard Chartered in a research note on Thursday, October 15th. Finally, Citigroup upped their price objective on shares of Standard Chartered from GBX 2,230 to GBX 2,370 and gave the company a “neutral” rating in a report on Wednesday, September 23rd. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Standard Chartered currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 2,492.

Standard Chartered Stock Down 0.6%

The stock has a 50 day simple moving average of GBX 2,180.07 and a 200 day simple moving average of GBX 1,981.62. The stock has a market cap of £47.91 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.80 and a beta of 0.56.

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. It offers retail products, such as deposits, mortgages, credit cards, and personal loans; wealth management products and services that include investments, portfolio management, insurance, and wealth advice; and transaction banking services, such as cash management, working capital, and trade financing products.