StanChart is 'cheap' but rationale for takeover challenged by scant synergies, Barclays says
Standard Chartered
990.80p
12:54 24/12/24
1.02%
10.00p
Shares of StanChart were indeed "cheap", demonstrating the "attractive" value on offer in European lenders, analysts at Barclays judged.
Banks
4,870.34
12:54 24/12/24
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39.54
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8,136.99
12:59 24/12/24
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12:54 24/12/24
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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.