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The latest update is out from Standard Chartered ( (GB:STAN) ).
Standard Chartered PLC announced the purchase of 737,000 of its ordinary shares as part of a share buy-back program. The shares were bought at a volume-weighted average price of 1,210.0581 GB pence, and the company plans to cancel these shares, reducing the total number of shares in issue to 2,332,695,051. This move is part of Standard Chartered’s strategy to enhance shareholder value and optimize its capital structure.
The most recent analyst rating on (GB:STAN) stock is a Buy with a £12.70 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 is performing well, driven by strong financial performance and strategic initiatives like share buy-backs. The significant income growth, favorable technical indicators, and a sound valuation position it well in the market. However, attention to declining cash flows and operational challenges is necessary to maintain this momentum.
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 operating in Asia, Africa, and the Middle East. The company offers a wide range of financial services, including personal banking, corporate banking, and wealth management, focusing on emerging markets.
YTD Price Performance: 25.59%
Average Trading Volume: 6,675,395
Technical Sentiment Signal: Buy
Current Market Cap: £28.23B
Find detailed analytics on STAN stock on TipRanks’ Stock Analysis page.