LONDON, August 6 (newratings.com) - Analyst Sandy Chen of Panmure Gordon upgrades Standard Chartered Plc (ticker: STAN-GBX) from "sell" to "hold." The target price is set to 1425p.
In a research note published this morning, the analyst mentions
that the company has reported its 1H08 profits before tax significantly ahead of the estimates and the consensus. Standard Chartered (LSE:
STAN.L -
news) witnessed robust balance sheet growth in the period and its credit quality was better than anticipated, the analyst says. The company is better positioned than several of its peers to tap growth opportunities, Panmure Gordon adds.
© 2008 New Ratings
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