Analysts Upgrade Standard Chartered

The global bank is undervalued, say Morningstar equity analysts. The bank’s international network as valuable and the higher growth not factored into its current share price

Michael Wu 27 February, 2019 | 12:34PM

Standard Chartered banking stock financial sector equities

Standard Chartered (STAN) reported a better than peers fourth-quarter result though the focus was the investor update, which builds on some of the earlier announced strategic growth initiatives, in our view.

Specifics include a further reduction in costs totalling $700 million over the next three years, the divestment of its 45% stake in Permata in Indonesia, while targeting annual income growth of 5% to 7%.

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About Author

Michael Wu  is a Senior Equity Analyst for Morningstar Asia

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