Standard Chartered PLC (ADR) (OTC:SCBFF) Receives a Downgrade
In a note sent to clients and investors on 18 December, investment analysts at Credit Agricole’s stock research division lowered the rating for Standard Chartered PLC (ADR) (OTC:SCBFF) shares from the previous Underperform to a Sell.
From a total of 4 analysts covering Standard Chartered PLC (ADR) (OTC:SCBFF) stock, 2 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 50% of the ratings are positive. Standard Chartered PLC (ADR) was the topic of 5 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 45,274 shares of stock traded hands or 59.44% up from the average. STANDARD CHART PLC ORD USD0.50 (OTC: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.”