Royal Bank of Canada Price Target Increased to $C311.00
Royal Bank of Canada (TSE:RY) had its price target increased to C$311.00 by Canadian Imperial Bank of Commerce on Wednesday, according to a note issued to investors. This new target represents an 8.31% potential upside from the company's previous close.
The firm currently has a 'neutral' rating on Royal Bank of Canada's stock. Other analysts have also revised their price targets for the financial services provider in recent weeks, with Canaccord Genuity Group increasing its target to C$310.00 and Desjardins upping its target to C$320.00.
In total, 13 analysts have weighed in on Royal Bank of Canada, with one rating the stock as a 'Strong Buy', eight giving it a 'Buy' rating, three issuing a 'Hold' rating, and one rating it as a 'Market Perform'. The company currently has an average price target of C$280.69.