Here’s why Citi says crypto prices have been weak recently
Investing.com - JPMorgan has raised its price target on Standard Chartered Plc. (HK:2888) (OTC:SCBFF) to HK$190.00 from HK$168.00 while maintaining an Overweight rating. The bank’s shares have already delivered impressive returns, with InvestingPro data showing a 72.6% year-to-date gain and 78.5% return over the past 12 months.
The price target increase follows Standard Chartered ’s strong third-quarter performance and investor meetings with CFO Diego De Giorgi, prompting JPMorgan to raise its earnings per share estimates by 3-6% for fiscal years 2025-2027.
JPMorgan cited multiple factors for its bullish outlook, including Standard Chartered’s projected 7.5% total return (dividends plus buybacks) for 2026, which it considers the highest among its covered banks in Greater China.
The investment bank also noted potential upside to non-interest income estimates driven by Wealth and Markets businesses, which could lead to a 14.0% return on tangible equity for fiscal year 2026 compared to the base case of 13.5%. InvestingPro data shows Standard Chartered currently maintains a "GREAT" overall financial health score of 3.35, with particularly strong momentum metrics.
JPMorgan expects Standard Chartered to obtain approval for a stablecoin issuance license in Hong Kong through its subsidiary Anchorpoint, which it views as positive for trading sentiment, while the stock currently trades at an FY26E 8.6x P/E, 0.9x P/BV, and 11.7% adjusted ROE. Current InvestingPro metrics indicate the stock is slightly overvalued against its Fair Value assessment, with a current P/E of 11.09 and price-to-book ratio of 0.92. For deeper insights on Standard Chartered and 1,400+ other stocks, check out the comprehensive Pro Research Reports available with an InvestingPro subscription.
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