Royal Bank of Canada (TSE:RY) Raised to Buy at TD Securities

Royal Bank of Canada (TSE:RY) (NYSE:RY) was upgraded by stock analysts at TD Securities from a “hold” rating to a “buy” rating in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a C$246.00 price target on the financial services provider’s stock, up from their prior price target of C$215.00. TD Securities’ price objective would indicate a potential upside of 9.47% from the company’s previous close.

RY has been the topic of a number of other reports. Barclays lifted their price objective on Royal Bank of Canada from C$221.00 to C$227.00 and gave the stock an “overweight” rating in a research note on Thursday. Erste Group Bank upgraded Royal Bank of Canada to a “strong-buy” rating in a research note on Monday, September 22nd. Raymond James Financial increased their price target on shares of 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. National Bankshares raised Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$203.00 to C$231.00 in a report on Monday, November 17th. Finally, Bank of America boosted their target price on Royal Bank of Canada from C$214.00 to C$227.00 in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$224.23.

Royal Bank of Canada Trading Up 0.3%

Shares of TSE:RY opened at C$224.72 on Thursday. The stock has a market capitalization of C$316.92 billion, a PE ratio of 17.00, a P/E/G ratio of 3.42 and a beta of 1.29. Royal Bank of Canada has a 1 year low of C$151.25 and a 1 year high of C$225.48. The firm has a fifty 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 posted its earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share for the quarter. The company had revenue of C$17.21 billion for the quarter. Royal Bank of Canada had a return on equity of 13.27% and a net margin of 28.23%. On average, sell-side analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal 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.