Royal Bank of Canada (TSE:RY) Stock Price Expected to Rise, UBS Group Analyst Says

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective boosted by stock analysts at UBS Group from C$225.00 to C$238.00 in a research note issued on Tuesday,BayStreet.CA reports. UBS Group’s price target would suggest a potential upside of 10.67% from the stock’s previous close.

Several other research firms have also recently commented on RY. Scotiabank boosted their target price on Royal Bank of Canada from C$210.00 to C$218.00 in a research note on Friday, October 10th. BMO Capital Markets boosted their price objective on Royal Bank of Canada from C$190.00 to C$203.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Bank of America upped their target price on shares of Royal Bank of Canada from C$214.00 to C$227.00 in a research note on Thursday, August 28th. National Bankshares raised shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$203.00 to C$231.00 in a report on Monday, November 17th. Finally, Canaccord Genuity Group boosted their price target on shares of Royal Bank of Canada from C$201.00 to C$219.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Royal Bank of Canada currently 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. Royal Bank of Canada has a 52 week low of C$151.25 and a 52 week high of C$215.23. The company has a fifty day simple moving average of C$205.85 and a two-hundred day simple moving average of C$190.81. The company has a market cap 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.

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.