Desjardins Raises Royal Bank of Canada (TSE:RY) Price Target to C$230.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price upped by Desjardins from C$218.00 to C$230.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Desjardins’ target price points to a potential upside of 2.35% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. BMO Capital Markets lifted their target price on shares of Royal Bank of Canada from C$190.00 to C$203.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Natl Bk Canada raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Raymond James Financial increased their target price on Royal Bank of Canada from C$229.00 to C$239.00 and gave the stock an “outperform” rating in a research report on Thursday. Jefferies Financial Group lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and raised their price target for the stock from C$213.00 to C$215.00 in a research note on Tuesday, November 25th. Finally, Bank of America upped their price objective on shares of Royal Bank of Canada from C$214.00 to C$227.00 in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average target price of C$224.23.

Royal Bank of Canada Stock Up 0.3%

Shares of TSE:RY opened at C$224.72 on Thursday. Royal Bank of Canada has a 52 week low of C$151.25 and a 52 week high of C$225.48. The company has a market cap of C$316.92 billion, a P/E ratio of 17.00, a PEG ratio of 3.42 and a beta of 1.29. The company has a 50-day moving average price of C$207.89 and a 200 day moving average price of C$192.91.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share for the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. The company had revenue of C$17.21 billion for the quarter. Analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

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.