CIBC Raises Royal Bank of Canada (RY) Price Target to C$113.00
Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective increased by investment analysts at CIBC from C$103.00 to C$113.00 in a report released on Monday. CIBC’s target price would indicate a potential upside of 13.18% from the stock’s previous close.
A number of other research firms also recently issued reports on RY. Scotiabank downgraded shares of Royal Bank of Canada from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from C$102.00 to C$100.00 in a research report on Monday, August 21st. BMO Capital Markets restated a “market perform” rating and set a C$100.00 price target on shares of Royal Bank of Canada in a research note on Thursday, August 24th. National Bank Financial decreased their price target on shares of Royal Bank of Canada from C$101.00 to C$99.00 and set a “sector perform” rating for the company in a research note on Thursday, August 24th. Barclays PLC boosted their price target on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a research note on Friday, August 25th. Finally, Eight Capital boosted their price target on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a research note on Friday, August 25th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of C$100.83.
Shares of Royal Bank of Canada (TSE:RY) traded down C$0.85 during trading on Monday, hitting C$99.84. 1,618,103 shares of the company traded hands, compared to its average volume of 2,688,637. Royal Bank of Canada has a 12 month low of C$85.17 and a 12 month high of C$102.15.
In related news, insider Alex Douglas Mcgregor sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of C$93.10, for a total transaction of C$931,000.00. Also, insider Jennifer Anne Tory sold 344 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of C$101.55, for a total value of C$34,933.20. Insiders have sold a total of 25,348 shares of company stock worth $2,405,033 over the last ninety days.
About Royal Bank of Canada
Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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