November 29, 2016 - By Clifton Ray
In an analyst note issued to clients and investors on Tuesday morning, Credit Suisse analyst just started coverage of Standard Chartered PLC (OTCMKTS:SCBFF) with “Underperform” rating.
Out of 6 analysts covering Standard Chartered PLC (OTCMKTS:SCBFF), 2 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 33% are positive. Standard Chartered PLC has been the topic of 7 analyst reports since September 22, 2015 according to StockzIntelligence Inc. The rating was upgraded by Investec to “Buy” on Tuesday, September 22. Credit Agricole downgraded the shares of SCBFF in a report on Friday, December 18 to “Sell” rating. The stock has “Neutral” rating given by Citigroup on Thursday, November 5. The rating was upgraded by Goldman Sachs to “Buy” on Thursday, October 8. On Monday, October 12 the stock rating was downgraded by Investec to “Hold”. The firm has “Underperform” rating by RBC Capital Markets given on Monday, October 24. The firm has “Buy” rating given on Thursday, January 14 by Berenberg.
It is down 6.88% since April 26, 2016 and is downtrending. It has underperformed by 12.14% the S&P500.
According to Zacks Investment Research, “Standard Chartered PLC operates as a banking group principally in Asia, Africa, and the Middle East. The bank provides consumer and wholesale banking products and services to individuals, small and medium-sized enterprises (SMEs), corporate, and institutional customers. Services offered by Standard Chartered include: loans and savings accounts, demand drafts, foreign exchange services, credit cards, insurance and investment advisory services. It also provides private and priority banking; international banking; cash management; trade finance and working capital as well as Internet banking services. Standard Chartered PLC is headquartered in London, the United Kingdom.”
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By Clifton Ray