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The latest update is out from Standard Chartered ( (GB:STAN) ).
Standard Chartered PLC announced the purchase of 730,000 of its ordinary shares as part of its ongoing share buy-back program. The shares were purchased at a volume-weighted average price of 1,319.8048 GB pence and will be canceled, reducing the total number of shares in issue to 2,323,895,482. This move is part of the company’s strategy to manage its capital structure and potentially enhance shareholder value.
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 financial performance and robust earnings growth are key strengths. Despite positive stock momentum and fair valuation, overbought technical indicators and challenges in cash flow and geopolitical risks slightly temper the outlook.
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 focused on providing financial services and products, including personal and business banking, wealth management, and corporate finance. The company operates in various markets across Asia, Africa, and the Middle East, aiming to drive commerce and prosperity through its unique diversity.
Average Trading Volume: 5,880,643
Technical Sentiment Signal: Buy
Current Market Cap: £30.12B
Learn more about STAN stock on TipRanks’ Stock Analysis page.