StanChart is 'cheap' but rationale for takeover challenged by scant synergies, Barclays says

9th Jan 2023 15:54

(Sharecast News) - Shares of StanChart were indeed "cheap", demonstrating the "attractive" value on offer in European lenders, analysts at Barclays judged.

Nonetheless, "the underlying strategic rationale of a future bid is challenged by little chance of realising meaningful synergies," they added in a research note sent to clients.

Hence their decision to stay at equalweight on shares of Asia-focused StanChart and to keep their target price at 750.0p.