Standard Chartered (LON:STAN) Sets New 52-Week High - Time to Buy?

Shares of Standard Chartered PLC (LON:STAN - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 993.40 ($12.57) and last traded at GBX 992.80 ($12.57), with a volume of 30818340 shares traded. The stock had previously closed at GBX 977.80 ($12.38).

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on STAN shares. Berenberg Bank reiterated a "buy" rating and set a GBX 1,100 ($13.92) target price on shares of Standard Chartered in a research note on Wednesday, August 21st. Citigroup reiterated a "neutral" rating on shares of Standard Chartered in a research report on Monday, September 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Standard Chartered currently has a consensus rating of "Moderate Buy" and an average target price of GBX 1,002 ($12.68).

Standard Chartered Stock Performance

The stock has a market capitalization of £23.66 billion, a price-to-earnings ratio of 1,142.07, a P/E/G ratio of 0.80 and a beta of 0.85. The stock has a fifty day simple moving average of GBX 869.13 and a two-hundred day simple moving average of GBX 787.68.

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.