Royal Bank of Canada Hit 52-Week High

 Royal Bank of Canada Hit 52 Week High

The stock of Royal Bank of Canada (TSE:RY) hit a new 52-week high and has $100.58 target or 21.00% above today’s $83.12 share price. The 5 months bullish chart indicates low risk for the $124.49B company. The 1-year high was reported on Oct, 18 by Barchart.com. If the $100.58 price target is reached, the company will be worth $26.14B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 314,092 shares traded hands. Royal Bank of Canada (TSE:RY) has risen 11.49% since March 11, 2016 and is uptrending. It has outperformed by 6.00% the S&P500.

Royal Bank of Canada (TSE:RY) Ratings Coverage

Out of 7 analysts covering RBC (TSE:RY), 4 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 57% are positive. $100 is the highest target while $58 is the lowest. The $82.17 average target is -1.14% below today’s ($83.12) stock price. RBC has been the topic of 29 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was maintained by Desjardins Securities with “Buy” on Tuesday, August 25. The stock of Royal Bank of Canada (TSE:RY) has “Outperform” rating given on Monday, August 17 by IBC. National Bank Canada maintained the shares of RY in a report on Tuesday, August 4 with “Sector Perform” rating. The company was maintained on Thursday, August 27 by Scotia Capital. The firm has “Neutral” rating given on Wednesday, September 21 by Dundee Securities.

More important recent Royal Bank of Canada (TSE:RY) news were published by: Business.Financialpost.com which released: “Royal Bank of Canada upgraded to buy” on October 13, 2016, also Reuters.com published article titled: “MOVES- Roman retires from Royal Bank of Canada”, Business.Financialpost.com published: “Royal Bank of Canada CEO touts pipelines as key to transitioning to a greener …” on September 26, 2016. More interesting news about Royal Bank of Canada (TSE:RY) was released by: Realmoney.Thestreet.com and their article: “Royal Bank of Canada Doesn’t Look as Noble Now” with publication date: September 21, 2016.

Royal Bank of Canada , is a diversified financial services company. The company has a market cap of $124.49 billion. The Firm provides personal and commercial banking, wealth management services, insurance, investor services and capital markets services and products on a global basis. It has a 12.11 P/E ratio. The Firm serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

RY Company Profile

Royal Bank of Canada (RBC), incorporated on June 22, 1869, is a diversified financial services company. The Firm provides personal and commercial banking, wealth management services, insurance, investor services and capital markets services and products on a global basis. The Firm serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries. The Company’s business divisions include Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, and Capital Markets. The Company, through its divisions, serves various lines of businesses, which include Personal Financial Services, Business Financial Services, Cards and Payment Solutions (Canadian Banking), Caribbean and United States Banking, Canadian Wealth Management, United States and International Wealth Management, Global Asset Management, Canadian Insurance, International Insurance, Corporate and Investment Banking, Global Markets and Other. The Company’s principal subsidiaries include Royal Bank Holding Inc., RBC USA Holdco Corporation, RBC Dominion Securities Limited, RBC Holdings (Barbados) Ltd., The Royal Trust Company, RBC Capital Trust and Royal Bank Mortgage Corporation. The Company’s principal subsidiaries include Royal Bank Holding Inc., RBC USA Holdco Corporation, RBC Dominion Securities Limited, RBC Holdings (Barbados) Ltd., The Royal Trust Company, RBC Capital Trust and Royal Bank Mortgage Corporation.

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