Standard Chartered (LON:STAN) Given “Conviction-Buy” Rating at Goldman Sachs Group

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Goldman Sachs Group reaffirmed their conviction-buy rating on shares of Standard Chartered (LON:STAN) in a research note released on Tuesday morning, ThisIsMoney.Co.Uk reports. The firm currently has a GBX 970 ($12.67) price target on the financial services provider’s stock, down from their prior price target of GBX 980 ($12.81).

STAN has been the topic of a number of other reports. Deutsche Bank reiterated a hold rating on shares of Standard Chartered in a research note on Friday, August 2nd. Barclays reiterated an underweight rating on shares of Standard Chartered in a research note on Wednesday, July 17th. Investec lowered shares of Standard Chartered to a sell rating in a research note on Friday, June 28th. JPMorgan Chase & Co. reiterated a top pick rating on shares of Standard Chartered in a research note on Thursday, July 4th. Finally, Royal Bank of Canada lowered shares of Standard Chartered to an underperform rating and boosted their price target for the stock from GBX 460 ($6.01) to GBX 580 ($7.58) in a research note on Tuesday, April 30th. Six analysts have rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of GBX 708.77 ($9.26).

Shares of LON:STAN opened at GBX 610.60 ($7.98) on Tuesday. The firm has a market capitalization of $19.40 billion and a PE ratio of 38.40. The firm’s 50-day moving average is GBX 690.32 and its two-hundred day moving average is GBX 661.60. Standard Chartered has a 1 year low of GBX 514.20 ($6.72) and a 1 year high of GBX 742.60 ($9.70).

The company also recently announced a dividend, which will be paid on Monday, October 21st. Investors of record on Thursday, August 8th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, August 8th. This represents a dividend yield of 0.82%. Standard Chartered’s payout ratio is 1.51%.

In other news, insider Andrew Nigel (Andy) Halford bought 23,701 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were purchased at an average cost of GBX 703 ($9.19) per share, for a total transaction of £166,618.03 ($217,715.97).

About Standard Chartered

Standard Chartered PLC., together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, and the Middle East. The company operates through Corporate & Institutional Banking, Retail banking, Commercial Banking, and Private Banking segments. It offers retail products, such as deposits, savings, mortgages, credit cards, and personal loans; wealth management that include investments, portfolio management, insurance and advices, and planning services; and transaction banking services, such as cash management, payments and transactions, securities services, and trade financing products.

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Analyst Recommendations for Standard Chartered (LON:STAN)

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