Citigroup Increases Royal Bank of Canada (RY) Price Target to C$120.00
Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price boosted by Citigroup from C$118.00 to C$120.00 in a report released on Tuesday. Citigroup’s target price would indicate a potential upside of 17.84% from the company’s current price.
Several other equities research analysts also recently weighed in on RY. Scotiabank downgraded Royal Bank of Canada from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$102.00 to C$100.00 in a report on Monday, August 21st. BMO Capital Markets reissued a “market perform” rating and set a C$100.00 price objective on shares of Royal Bank of Canada in a report on Thursday, August 24th. National Bank Financial cut their target price on Royal Bank of Canada from C$101.00 to C$99.00 and set a “sector perform” rating on the stock in a report on Thursday, August 24th. Barclays lifted their target price on Royal Bank of Canada from C$94.20 to C$96.00 in a report on Friday, August 25th. Finally, Eight Capital lifted their target price on Royal Bank of Canada from C$102.00 to C$105.00 in a report on Friday, August 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Royal Bank of Canada currently has a consensus rating of “Hold” and an average target price of C$106.31.
Royal Bank of Canada (TSE RY) traded down C$0.64 during midday trading on Tuesday, hitting C$101.83. The company had a trading volume of 1,414,741 shares, compared to its average volume of 2,596,873. Royal Bank of Canada has a 12 month low of C$89.94 and a 12 month high of C$102.59.
About Royal Bank of Canada
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury Services, and Capital Markets. The Personal & Commercial Banking segment engages in the personal and business banking operations, auto financing, and retail investment businesses.
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