Standard Chartered PLC (OTCMKTS:SCBFF) Receives Downgrade From Credit Agricole. Will Other Analysts Follow Suit?

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Standard Chartered PLC (OTCMKTS:SCBFF) Receives a Downgrade

Credit Agricole has given Standard Chartered PLC (OTCMKTS:SCBFF) shares a new Sell rating in analysts note revealed to investors on Friday, 18 December. This was a decrease from the earlier Underperform rating.

From a total of 3 analysts covering Standard Chartered PLC (OTCMKTS:SCBFF) stock, 1 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 33% of the ratings are positive. Standard Chartered PLC was the topic of 4 analyst reports since September 22, 2015 according to the firm StockzIntelligence Inc. Citigroup downgraded shares on November 5 to “Neutral” rating. Goldman Sachs upgraded SCBFF stock in a recent report from October 8 to “Buy” rating.

Approximately 5,224 shares of stock traded hands. STANDARD CHART PLC ORD USD0.50 (OTCMKTS:SCBFF) has declined 50.88% since May 15, 2015 and is downtrending. It has underperformed by 47.07% 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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