MARKET TALK: Citigroup Raises Standard Chartered Price Target

5th Jul 2010 10:10

0910 GMT [Dow Jones] Citigroup raises Standard Chartered (STAN.LN) price target to 2100p from 2000p to reflect peer multiples and updated estimates. Notes the group's wholesale bank in Asia has reported stellar growth in recent years. Says while it's only the third largest international bank in Asia, it has been the fastest grower in recent years. "Success has been driven by its strategic focus on Asia and emerging markets, gaining share from distracted competitors, new investments in talent and capital and an entrepreneurial management team." Keeps the stock at buy. Shares -0.4% at 1605p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 05, 2010 05:10 ET (09:10 GMT)