Standard Chartered (LON:STAN) Hits New 1-Year High - Still a Buy?

Standard Chartered PLC (LON:STAN - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as GBX 923.36 ($11.97) and last traded at GBX 922.80 ($11.97), with a volume of 50399313 shares traded. The stock had previously closed at GBX 913.80 ($11.85).

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Citigroup reissued a "neutral" rating on shares of Standard Chartered in a research report on Monday, September 2nd. Berenberg Bank reiterated a "buy" rating and set a GBX 1,100 ($14.27) price target on shares of Standard Chartered in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. increased their target price on shares of Standard Chartered from GBX 1,000 ($12.97) to GBX 1,020 ($13.23) and gave the stock an "overweight" rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Standard Chartered has an average rating of "Moderate Buy" and a consensus target price of GBX 979.67 ($12.70).

Standard Chartered Stock Performance

The stock has a market capitalization of £22.54 billion, a P/E ratio of 1,057.24, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. The firm has a 50-day moving average price of GBX 805.16 and a 200 day moving average price of GBX 756.37.

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.