Standard Chartered share price: Investec analysts downgrade bank stock after just two days following share price rally

Lauren Fedor
Follow Lauren
Standard Chartered is reporting full-year results next week (Source: Getty)

Investec has downgraded Standard Chartered to a “hold” rating just two days after upgrading the lender to a buy, after shares in the Asia-facing bank rallied by more than 17 per cent in just two working days.

Standard Chartered has struggled since the start of the year, with shares tumbling by over 20 per cent. But industry experts, including analysts at Investec, JP Morgan and Berenberg, have dismissed Asia-related jitters and pointed to the bank’s growth outlook to claim investors are undervaluing the stock. However, Ian Gordon at Investec said this morning that while his projections for the bank had not changed in light of the recent rally, investors would be wise to “take profits” while they can.

The bank's shares fell by as much as 7.6 per cent in morning trading today before recovering slightly. The bank was trading at 28.15p per share at 2:40pm GMT.

Standard Chartered is due to report its 2015 full-year results next Tuesday, 23 February.

Related articles