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The latest announcement is out from Standard Chartered ( (GB:STAN) ).
Standard Chartered PLC announced the purchase of 536,190 of its ordinary shares from Goldman Sachs International as part of its ongoing share buy-back program. The company plans to cancel these shares, reducing the total number of shares in issue to 2,304,569,772, which will also be the total number of voting rights. This move is part of a strategic effort to manage its capital structure and enhance shareholder value.
The most recent analyst rating on (GB:STAN) stock is a Buy with a £1508.00 price target. To see the full list of analyst forecasts on Standard Chartered stock, see the GB:STAN Stock Forecast page.
Spark’s Take on GB:STAN Stock
According to Spark, TipRanks’ AI Analyst, GB:STAN is a Outperform.
Standard Chartered’s strong earnings call performance and attractive valuation are key strengths. Financial performance is solid but challenged by declining cash flows. Technical indicators show a positive trend, supporting the overall score.
To see Spark’s full report on GB:STAN stock, click here.
More about Standard Chartered
Standard Chartered PLC is a leading international banking group, primarily offering financial services such as personal and corporate banking, wealth management, and investment services. The company operates across various markets with a strong focus on Asia, Africa, and the Middle East.
Average Trading Volume: 5,601,509
Technical Sentiment Signal: Buy
Current Market Cap: £31.94B
For an in-depth examination of STAN stock, go to TipRanks’ Overview page.