The Traderszone Network

Published in TZ Latest News 17 December, 2015 by The TZ Newswire Staff

Standard Chartered shares upgraded by CLSA on possible white knight takeover

Shares of Standard Chartered (StanChart) (STAN.L) (2888.HK) were upgraded by broker CLSA on expectations the UK bank’s “challenging” recovery could lead to a takeover by a white knight. Singapore’s biggest lender DBS Group (DBSM.SI) would be the most likely buyer, added CLSA in a note to clients dated Dec 17. Asia-focused lender StanChart has seen its shares fall below a forward price-to-book value of 0.5 times this week, making it an appealing target.