Movement Alert｜Standard Chartered Rises 3.23% in Regular Trading, New Strategic Plan and JPMorgan Overweight Rating Boost Market Confidence

Market Focus05-21

On May 21, Standard Chartered Group rose 3.23% in regular trading, trading at HKD 204.0/share, with trading volume of HKD 53.43 million.

The rally was driven by the company recently unveiling a new medium-to-long-term sustainable growth strategy, announcing it has achieved its medium-term financial targets one year ahead of schedule. The group set a new goal of approximately 18% return on tangible equity (RoTE) by 2030, up from the over 15% target for 2028. Additionally, Standard Chartered plans to cut more than 15% of corporate function roles by 2030, affecting nearly 8,000 positions, while targeting a roughly 20% increase in per-capita revenue generation by 2028 through automation and AI deployment.

Following the announcement, JPMorgan issued a report noting that Standard Chartered's current valuation has yet to reflect its long-term return objectives, reaffirming an Overweight rating with a target price of HKD 232.9. Meanwhile, the company continued its buyback program, repurchasing approximately 792,100 shares on May 18 for around GBP 15.04 million, and a further 775,196 shares on May 19 for GBP 14.72 million.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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