Standard Chartered downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank analyst Robert Noble downgraded Standard Chartered (SCBFF) to Hold from Buy with a price target of 800 GBp, down from 900 GBp. The analyst switched his preference for how to profit off the Federal Reserve’s "pivot" from Standard Chartered to HSBC (HSBC). He sees structurally higher returns, greater capital generation and better capital return at HSBC.