CIBC Increases Royal Bank of Canada (TSE:RY) Price Target to C$220.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price upped by investment analysts at CIBC from C$208.00 to C$220.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 6.19% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Desjardins upped their price target on shares of Royal Bank of Canada from C$193.00 to C$214.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. TD Securities boosted their price objective on Royal Bank of Canada from C$208.00 to C$215.00 in a research report on Monday, November 10th. BMO Capital Markets boosted their price target on Royal Bank of Canada from C$190.00 to C$203.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Barclays lifted their price objective on Royal Bank of Canada from C$190.00 to C$203.00 in a report on Thursday, August 28th. Finally, Canaccord Genuity Group lifted their target price on shares of Royal Bank of Canada from C$201.00 to C$219.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$210.23.

Royal Bank of Canada Trading Down 0.6%

RY stock traded down C$1.20 during trading on Wednesday, hitting C$207.18. The company had a trading volume of 827,115 shares, compared to its average volume of 4,128,474. The business has a 50 day moving average of C$204.53 and a 200 day moving average of C$189.09. The firm has a market capitalization of C$292.19 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a fifty-two week low of C$151.25 and a fifty-two week high of C$209.06.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.