Standard Chartered (OTCMKTS:SCBFF) Lifted to Buy at Zacks Investment Research

Standard Chartered (OTCMKTS:SCBFF – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The firm currently has a $8.75 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.90% from the company’s current price.

According to Zacks, “Standard Chartered PLC operates as a banking group principally in Asia, Africa, and the Middle East. The bank provides consumer and wholesale banking products and services to individuals, small and medium-sized enterprises (SMEs), corporate, and institutional customers. Services offered by Standard Chartered include: loans and savings accounts, demand drafts, foreign exchange services, credit cards, insurance and investment advisory services. It also provides private and priority banking; international banking; cash management; trade finance and working capital as well as Internet banking services. Standard Chartered PLC is headquartered in London, the United Kingdom. “

A number of other research firms also recently issued reports on SCBFF. UBS Group lifted their price objective on shares of Standard Chartered from GBX 580 ($7.27) to GBX 690 ($8.65) in a report on Tuesday, February 22nd. Credit Suisse Group boosted their price target on shares of Standard Chartered from GBX 460 ($5.76) to GBX 510 ($6.39) in a research report on Friday, April 29th. Deutsche Bank Aktiengesellschaft raised their price objective on Standard Chartered from GBX 610 ($7.64) to GBX 620 ($7.77) in a report on Thursday, March 17th. Finally, Barclays reiterated a “buy” rating and set a $610.00 target price on shares of Standard Chartered in a report on Tuesday, April 5th.

Shares of Standard Chartered stock opened at $7.75 on Wednesday. The business’s 50 day simple moving average is $7.02 and its 200 day simple moving average is $6.73. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.84 and a quick ratio of 0.84. Standard Chartered has a 52-week low of $5.41 and a 52-week high of $8.12.

Standard Chartered Company Profile (Get Rating)

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, Europe, the Americas, and the Middle East. The company operates through two segments: Corporate, Commercial and Institutional Banking; and Consumer, Private and Business Banking.

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