Scotia Boosts Price Target for Royal Bank of Canada Stock to $312

Analysts at Scotia have raised their price target for Royal Bank of Canada (TSE:RY) stock from C$311.00 to C$312.00, citing strong price appreciation potential.

The brokerage currently maintains a 'sector outperform' rating on the financial services provider's stock, suggesting a possible 9.81% upside from its current price.

Scotia is not alone in their optimism - several other research analysts have also boosted their target prices for RY in recent weeks, with Desjardins lifting theirs to C$320.00 and Canadian Imperial Bank of Commerce increasing theirs to C$311.00.

The average rating among analysts for RY stock currently stands at 'Moderate Buy', with 15 out of 27 ratings being positive.