The stock of Royal Bank of Canada (TSE:RY) reached all time high today, Nov, 11 and still has $120.30 target or 41.00% above today’s $85.32 share price. This indicates more upside for the $129.67 billion company. This technical setup was reported by Barchart.com. If the $120.30 PT is reached, the company will be worth $53.16B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 501,136 shares traded hands. Royal Bank of Canada (TSE:RY) has risen 16.53% since April 7, 2016 and is uptrending. It has outperformed by 10.39% the S&P500.
Royal Bank of Canada (TSE:RY) Ratings Coverage
Out of 7 analysts covering RBC (TSE:RY), 3 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 43% are positive. $100 is the highest target while $58 is the lowest. The $82.17 average target is -3.69% below today’s ($85.32) stock price. RBC has been the topic of 30 analyst reports since August 4, 2015 according to StockzIntelligence Inc. National Bank Canada maintained the stock with “Sector Perform” rating in Tuesday, August 4 report. Dundee Securities maintained Royal Bank of Canada (TSE:RY) rating on Wednesday, September 21. Dundee Securities has “Neutral” rating and $87 price target. The stock has “Buy” rating given by Desjardins Securities on Tuesday, August 25. The firm has “Outperform” rating by IBC given on Monday, August 17. The rating was maintained by Scotia Capital with “Outperform” on Thursday, August 27. Bank of America initiated the stock with “Underperform” rating in Tuesday, November 1 report.
More news for Royal Bank of Canada (TSE:RY) were recently published by: Forbes.com, which released: “Ex-Div Reminder for Royal Bank of Canada (RY)” on October 20, 2016. Business.Financialpost.com‘s article titled: “Royal Bank of Canada upgraded to buy” and published on October 13, 2016 is yet another important article.
Royal Bank of Canada , is a diversified financial services company. The company has a market cap of $129.67 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 12.43 P/E ratio. The Firm serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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