Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Standard Chartered ( (GB:STAN) ) just unveiled an update.
Standard Chartered PLC has announced the repurchase of 764,776 of its ordinary shares as part of its ongoing share buy-back program. The repurchased shares will be canceled, reducing the total number of shares in issue to 2,337,977,650, which will also be the total number of voting rights. This move is part of the company’s strategy to manage its capital structure and return value to shareholders.
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 robust financial performance and attractive valuation are significant strengths. The technical indicators suggest bullish momentum, though caution is advised due to potential overbought conditions. The company’s proactive capital management through share buy-backs further strengthens its market position, despite challenges in cash flow and geopolitical risks.
To see Spark’s full report on GB:STAN stock, click here.
More about Standard Chartered
Standard Chartered PLC is a multinational banking and financial services company. It offers a wide range of products and services including retail and commercial banking, wealth management, and corporate finance. The company primarily focuses on markets in Asia, Africa, and the Middle East.
Average Trading Volume: 7,012,912
Technical Sentiment Signal: Buy
Current Market Cap: £26.84B
Find detailed analytics on STAN stock on TipRanks’ Stock Analysis page.