Standard Chartered (LON:STAN) Share Price Crosses Above 200-Day Moving Average - Here's Why

Standard Chartered PLC (LON:STAN - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 764.31 ($9.84) and traded as high as GBX 944.40 ($12.15). Standard Chartered shares last traded at GBX 941 ($12.11), with a volume of 5,605,039 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Citigroup reissued a "neutral" rating on shares of Standard Chartered in a research report on Monday, September 2nd. JPMorgan Chase & Co. increased their price target on shares of Standard Chartered from GBX 1,000 ($12.87) to GBX 1,020 ($13.13) and gave the company an "overweight" rating in a research report on Thursday, August 1st. Finally, Berenberg Bank reissued a "buy" rating and set a GBX 1,100 ($14.16) price target on shares of Standard Chartered in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of GBX 979.67 ($12.61).

Standard Chartered Trading Down 1.9 %

The firm has a market capitalization of £22.62 billion, a P/E ratio of 1,067.13, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. The business's 50 day simple moving average is GBX 823.09 and its two-hundred day simple moving average is GBX 766.27.

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.