BRUCE PACKARD | Seymour Pierce
The bank is currently trading on 1.8 times tangible book value, well ahead of European banks. In one sense we think this is justified given the geographies that StanChart operates in, however we are concerned that the secondary effects of the European bond turmoil will impact Asian trade… Hold.
GARY GREENWOOD | SHORE CAPITAL
Standard Chartered remains our preferred play in the UK banking sector, reflecting its relatively strong balance sheet, exposure to higher growth economies and more limited regulatory risk. Nevertheless, we retain our hold recommendation, reflecting the ongoing macroeconomic uncertainty.
KEITH BOWMAN | Hargreaves Landsdown
To the envy of rivals, Standard continues to forecast strong results. However, the crisis in Europe and the resultant move into the haven of the US dollar have caused increased currency headwinds… While opinion has softened over recent months, it continues to be one of the few perceived banking growth stories.