Royal Bank of Canada Earns Moderate Buy Rating from Analysts

Analysts have given Royal Bank of Canada an average rating of 'Moderate Buy' based on their latest coverage. Among twelve ratings firms covering the company, three analysts have recommended holding onto the stock, eight have issued a buy recommendation, and one has assigned a strong buy recommendation.

The average 1-year price target among these analysts is C$262.96. Several analysts have raised their price targets for Royal Bank of Canada recently: Jefferies Financial Group increased its target to C$232.00 from C$226.00; Desjardins boosted its target to C$275.00 from C$262.00, giving the company a 'buy' rating; and Scotiabank raised its target to C$280.00 from C$275.00 with a 'sector outperform' rating.

In other news, Royal Bank of Canada's insider Neil Mclaughlin sold 4,000 shares at an average price of C$287.72, totaling C$1,150,880. Director David Ian Mckay also sold 133,130 shares for a total of C$38,236,267.30.