Goldman Sachs upgraded Standard Chartered (SCBFF) to Buy from Neutral with a price target of 1,965 GBp, up from 1,670 GBp. Despite the year-to-date rally in shares, the firm sees room for further re-rating given what it views as “compelling valuation upside” compared to peers and increased conviction in the bank’s sustained improving profitability outlook, the analyst tells investors.
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