Royal Bank of Canada (RY) Given New C$120.00 Price Target at Citigroup

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective increased by equities research analysts at Citigroup from C$118.00 to C$120.00 in a report issued on Tuesday. Citigroup’s target price suggests a potential upside of 17.84% from the company’s previous close.

A number of other research analysts also recently commented on RY. Eight Capital raised Royal Bank of Canada from a “neutral” rating to a “buy” rating and increased their price target for the company from C$107.00 to C$113.00 in a report on Monday. Scotiabank increased their price target on Royal Bank of Canada from C$110.00 to C$111.00 and gave the company a “sector perform” rating in a report on Thursday, November 30th. National Bank Financial increased their price target on Royal Bank of Canada from C$101.00 to C$105.00 and gave the company a “sector perform” rating in a report on Thursday, November 30th. Desjardins increased their price target on Royal Bank of Canada from C$108.00 to C$109.00 in a report on Thursday, November 30th. Finally, CSFB increased their price target on Royal Bank of Canada from C$105.00 to C$108.00 and gave the company an “outperform” rating in a report on Thursday, November 30th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Royal Bank of Canada presently has a consensus rating of “Hold” and an average price target of C$106.31.

Shares of Royal Bank of Canada (RY) traded down C$0.64 during midday trading on Tuesday, hitting C$101.83. The stock had a trading volume of 1,414,741 shares, compared to its average volume of 2,596,873. Royal Bank of Canada has a 52 week low of C$89.94 and a 52 week high of C$102.59.

In related news, Director Thierry Vandal purchased 729 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average cost of C$91.91 per share, for a total transaction of C$67,002.39. Also, insider Jennifer Anne Tory sold 344 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of C$101.55, for a total value of C$34,933.20. Insiders have sold 32,731 shares of company stock worth $3,209,901 in the last 90 days.

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Royal Bank of Canada Company Profile

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.

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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