Royal Bank of Canada (TSE:RY) PT Set at C$229.00 by Raymond James Financial

Royal Bank of Canada (TSE:RY) (NYSE:RY) received a C$229.00 price target from stock analysts at Raymond James Financial in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Raymond James Financial’s price objective points to a potential upside of 6.48% from the stock’s previous close.

Several other research firms also recently weighed in on RY. Cibc World Mkts downgraded shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Erste Group Bank raised shares of Royal Bank of Canada to a “strong-buy” rating in a research note on Monday, September 22nd. Scotiabank boosted their target price on shares of Royal Bank of Canada from C$210.00 to C$218.00 in a research note on Friday, October 10th. Jefferies Financial Group lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their target price for the company from C$213.00 to C$215.00 in a report on Tuesday. Finally, National Bankshares raised Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$203.00 to C$231.00 in a research report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$216.43.

Royal Bank of Canada Stock Up 0.2%

TSE:RY opened at C$215.06 on Tuesday. The stock has a fifty day simple moving average of C$205.85 and a 200 day simple moving average of C$190.81. The firm has a market capitalization of C$303.30 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a 1-year low of C$151.25 and a 1-year high of C$215.23.

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.