Standard Chartered PLC

STAN: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 398.00	Mhbg	Mxdqzsrc

Standard Chartered Earnings: Messy Quarter Doesn’t Mean End of StanChart’s Gradual Turnaround

Michael Makdad

Oct 26, 2023

We reduce our fair value for Standard Chartered's Hong Kong listed shares to HKD 77.5 from HKD 82 and maintain our fair value for its London shares at GBX 820. These are around 0.77 times the group's book value and 30% above the current share prices, meaning that we view StanChart as attractive relative to its intrinsic value.

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