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Standard Chartered ( (GB:STAN) ) has provided an update.
Standard Chartered PLC announced the purchase of 722,874 of its ordinary shares as part of a share buy-back program. The company intends to cancel these shares, reducing the total number of shares in issue to 2,331,256,177. This strategic move is part of an ongoing effort to optimize capital structure and enhance shareholder value, aligning with regulatory guidelines and market conditions.
The most recent analyst rating on (GB:STAN) stock is a Hold with a £8.15 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 technical indicators and robust revenue growth are major positives. The solid balance sheet and attractive valuation further support the stock’s appeal. However, issues with cash flow and geopolitical risks need monitoring.
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, providing a wide range of financial services including personal banking, corporate banking, and wealth management. The company operates primarily in Asia, Africa, and the Middle East, focusing on emerging markets where it has a strong presence and market influence.
Average Trading Volume: 6,661,964
Technical Sentiment Signal: Buy
Current Market Cap: £28.23B
For detailed information about STAN stock, go to TipRanks’ Stock Analysis page.