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

Standard Chartered (OTCMKTS:SCBFF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The firm currently has a $7.00 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.82% from the company’s previous close.

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. “

Several other analysts have also recently commented on SCBFF. Barclays restated a “sell” rating on shares of Standard Chartered in a research note on Friday, August 6th. Credit Suisse Group raised Standard Chartered from an “underperform” rating to a “neutral” rating in a report on Thursday, July 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.00.

OTCMKTS:SCBFF opened at $6.26 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.42. The stock’s 50 day simple moving average is $6.15 and its 200-day simple moving average is $6.61. Standard Chartered has a 12-month low of $4.30 and a 12-month high of $7.57. The firm has a market cap of $19.76 billion, a P/E ratio of 17.39 and a beta of 1.10.

Standard Chartered Company Profile

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 Corporate & Institutional Banking, Retail banking, Commercial Banking, and Private Banking segments.

Recommended Story: How to start trading in the forex market?

Get a free copy of the Zacks research report on Standard Chartered (SCBFF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Standard Chartered (OTCMKTS:SCBFF)

Receive News & Ratings for Standard Chartered Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Chartered and related companies with MarketBeat.com's FREE daily email newsletter.