The latest London South East Webinar takes place on July 6. Come and hear CEO’s from Orosur Mining, Caledonia Mining, Glantus Holdings and Tekcapital speak. Please register here

Less Ads, More Data, More Tools Register for FREE
Games developer tinyBuild seeks to boost £500 million market cap by becoming a media company
Games developer tinyBuild seeks to boost £500 million market cap by becoming a media companyView Video
Samarkand Group update the market at the London South East Aquis Special webinar
Samarkand Group update the market at the London South East Aquis Special webinarView Video

Latest Share Chat

Berenberg raises target price on 'undervalued' Standard Chartered

Fri, 30th Apr 2021 13:23

(Sharecast News) - Berenberg raised its target price on financial services company Standard Chartered from 550.0p to 630.0p on Friday, stating the firm was now "catching up" with the rest of the pack.
Berenberg said that as well as benefiting from faster-growing markets than its peers, Standard Chartered was also "a key beneficiary" of strengthening global activity.

"Yet, despite this, the bank's share price had risen by just 7% year-to-date prior to its recent Q1 2021 results," noted Berenberg.

As well as providing near-term support, Berenberg said Standard Chartered's first-quarter results increased its confidence in the bank's future growth.

"As a result, we raise our already above-consensus revenue estimates by 1-2%. Trading on just 7.8x our FY 2022E EPS (a circa 20% discount to the sector), we believe Standard Chartered remains undervalued," concluded the German bank, which also reiterated its 'buy' rating on the stock.

Related Shares

More News

LONDON MARKET MIDDAY: Stocks lower as US Fed signals 2023 rate hike

LONDON MARKET MIDDAY: Stocks lower as US Fed signals 2023 rate hike

Today 12:11

LONDON MARKET OPEN: Whitbread upbeat; Dr Martens on back foot

LONDON MARKET OPEN: Whitbread upbeat; Dr Martens on back foot

Today 09:04

Abuja taps StanChart for rail project financing, instead of China Eximbank

(Sharecast News) - Abuja may tap StanChart instead of Chinese lenders for the financing needed to modernise two of the country's main railways.

10 Jun 21 11:16

LONDON MARKET CLOSE: FTSE 100 ends green after another US jobs flop

LONDON MARKET CLOSE: FTSE 100 ends green after another US jobs flop

4 Jun 21 17:04

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.